BAKU, Azerbaijan, Feb.1
By Zeyni Jafarov – Trend:
The net external assets of Azerbaijani commercial banks decreased by 22.3 percent in 2020 compared to 2019 and amounted to 4.06 billion manat ($2.38 billion), Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
According to the report, the banks' net external assets were formed by deducting total external assets of over 5.5 billion manat ($3.23 billion) and external liabilities of 1.22 billion manat ($717.6 million).
Deposit operations in commercial banks are estimated at 18.4 billion manat ($10.8 billion), which shows a decline in annual terms of 4.9 percent. Of these, 9.52 billion manat ($5.66 billion) fell on deposits in national currency, and 8.88 billion manat ($5.22 billion) - in foreign currency.
Accordingly, the Azerbaijani commercial banks' demand by early January 2021 amounted to 14.9 billion manat ($8.76 billion), or 20.6 percent of the country's GDP.
S&P Global Ratings expects that the share of commercial banks in Azerbaijan in GDP will gradually decrease in 2021 and 2022 and will amount to 20.5 percent and 19.6 percent, respectively, and in 2023 it will be at 19.6 percent.
(1 USD = 1.7 AZN on Feb.1)
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