Share of assets in Azerbaijani banking sector declines

Finance Materials 26 November 2020 15:53 (UTC +04:00)
Share of assets in Azerbaijani banking sector declines

BAKU, Azerbaijan, Nov. 26

By Zeyni Jafarov - Trend:

The assets of the Azerbaijani banking sector made up 30.7 billion manat ($18 billion) as of early November 2020, down by 6.2 percent compared to January this year, and by 2.2 percent less than early November 2019, Trend reports referring to the statistical bulletin of the Central Bank of Azerbaijan.

According to the bulletin, in the structure of local banks' assets 13.1 billion manat ($7.7 billion) accounted for loans issued to clients. Over the past year, the banking sector's loan portfolio grew by 4.3 percent, and the share of loans in total assets - from 40.2 to 42.8 percent.

During the reporting period, the liabilities of the banking sector decreased by 2 percent and amounted to 26.1 billion manat ($15.3 billion). Of these, 7.8 billion manat ($4.5 billion) fell on deposits of individuals, and 11.6 billion manat ($6.8 billion) - on legal entities’ deposits.

The banks' balance capital amounted to 4.6 billion manat ($2.7 billion), having decreased by 3 percent over the year.

As of early 2020, the total assets of banks in Azerbaijan were estimated at 32.7 billion manat ($19.2 billion).


Follow the author on Twitter: @ jafarov_zeyni