Total assets of Azerbaijani banks increase
BAKU, Azerbaijan, Feb. 15
By Eldar Janashvili - Trend:
Total assets of Azerbaijan’s banking sector increased by 11.1 percent in 2019, Trend reports referring to the report of Azerbaijan’s Central Bank (CBA).
According to the report, the total assets increased by 3.2 billion manat ($1.8 billion), and reached 32.7 billion manat ($19.2 billion).
A significant part, about 46.5 percent, in the structure of assets accounted for loans issued by banks to customers and financial institutions in the amount of 15.2 billion manat ($8.9 billion). Their volume increased by 17.8 percent. Reserves of 1.4 billion manat ($823.5 million) were also created on these loans.
The volume of cash increased by 12.3 percent, amounted to 1.5 billion manat ($882.3 million). Correspondent accounts of CBA amounted to 2.6 billion manat, and 3.27 billion manat ($1.92 billion) on nostro accounts (correspondent accounts of other banks). Bank investments in securities exceeded 3.26 billion manat ($1.91 million) in 2019, an increase over two-thirds compared to 2018.
The banks also held each other’s deposits worth 18 billion manat ($10.5 billion), an annual increase of which amounted to 27.3 billion ($16 billion).
Fixed assets increased by 3.6 percent in the structure of long-term assets, up to 987 million manat ($580.5 million). Intangible assets increased by 15.2 percent, amounting to 167.8 million manat ($98.7 million). Other assets amounted to slightly above 1.63 billion manat ($958.8 million).
Follow the author on Twitter: @eldarjanashvili