...

Central Bank of Azerbaijan shares data of deposit operations of Azerbaijani commercial banks

Finance Materials 1 March 2021 13:57 (UTC +04:00)
Central Bank of Azerbaijan shares data of deposit operations of Azerbaijani commercial banks

BAKU, Azerbaijan, March 1

By Zeyni Jafarov - Trend:

By early February 2021, the net external assets of the Azerbaijani commercial banks, having decreased in annual terms by 19.3 percent, amounting to about 4.2 billion manat ($2.5 billion), Trend reports on March 1 with reference to the statistics report of the Central Bank of Azerbaijan (CBA).

In accordance with the report, the banks' net external assets were formed as a result of deducting total external assets in the amount of more than 5.7 billion manat ($3.3 billion) and external liabilities in the amount of 1.2 billion manat ($705 million).

The deposit operations in commercial banks are estimated at 17.8 billion manat ($10.5 billion), which shows a decline in annual terms by 7.7 percent. Some 9.1 billion manat ($5.3 billion) of that volume accounted for deposits in national currency, 8.6 billion in foreign currency.

As a result, the demand of commercial banks in Azerbaijan by early February 2021 amounted to 14.9 billion manat ($8.8 billion).

In accordance with the expectations of S&P Global Ratings, 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. It will reach 19.6 percent in 2023.

-----

Follow the author on Twitter:@jafarov_zeyni

Tags:
Latest

Latest