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Azerbaijan discloses volume of liabilities of banks in Jan. 2021 accounting for deposits

Finance Materials 26 February 2021 22:02
Azerbaijan discloses volume of liabilities of banks in Jan. 2021 accounting for deposits

BAKU, Azerbaijan, Feb. 26

By Zeyni Jafarov - Trend:

The total liabilities of the Azerbaijani banking sector decreased by 3.5 percent in January 2021, compared to January 2020, Trend reports citing a statistics report from the Central Bank of Azerbaijan (CBA).

In accordance with the report, total liabilities decreased by 994.9 million manat ($585.2 million), amounting to 27.2 billion manat ($16 billion).

In the structure of liabilities, the main part (more than 74.5 percent) accounted for deposits (excluding deposits of financial institutions), the volume of which decreased by 6.3 percent for the year, amounting to 20.3 billion manat ($11.9 billion).

At the same time, a big part (60.2 percent) accounted for deposits of legal entities in the amount of 12.2 billion manat that’s $7.2 billion (a decline of 7.8 percent), of which 10.09 billion manat ($5.9 billion) accounted for demand deposits.

Individuals' deposits decreased by 4.1 percent, amounting to 8.08 billion manat ($4.7 billion), of which more than 58.8 percent accounted for term deposits in the amount of 4.7 billion manat ($2.8 billion). The deposits of financial institutions reached 1.05 billion manat ($617 million) or 5.2 percent of all deposits.

The liabilities of the banks to the Central Bank of Azerbaijan amounted to 374.1 million manat ($220.05 million), which is by 30.5 million manat ($17.9 million) more than in January 2020. Loro accounts are estimated at 221 million manat ($130 million).

The volume of loans from banks and other financial institutions amounted to 2.1 billion manat ($1.2 billion), practically unchanged in annual terms. The issued securities of the country's banks reached 1.7 billion manat ($1 billion), or 6.3 percent of the total amount of liabilities. Other liabilities amounted to 1.4 billion manat ($823 million).

In accordance with the report, the total capital of banks in January 2021 increased by 1.6 percent and amounted to 4.7 billion manat ($2.8 billion), while the banks' own capital reached 4.4 billion manat ($2.6 billion) while capital reserves reached 329.7 million manat ($193.9 million).

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