BAKU, Azerbaijan, March 16
By Zeyni Jafarov - Trend:
Liquid assets of the Azerbaijani banking sector amounted to 32.9 percent of total assets or 10.5 billion manat ($6.2 billion) in 2020, Trend reports on March 16 with reference to the Central Bank of Azerbaijan (CBA).
The quick ratio of the banking sector during the reporting period amounted to 60.9 percent, which exceeds the minimum demand by more than twofold, which was at the level of 30 percent.
The total liabilities of banks decreased by 2.8 percent, or 800 million manat ($470 million), amounting to 27.4 billion manat ($16.1 billion) in 2020.
Total liabilities for the last year increased by 1.7 percent excluding the closed banks.
A significant part - 74 percent of liabilities accounted for deposits, of which 40 percent, or 8.2 billion manat ($4.8 billion), accounted for deposits of the population.
The CBA stressed that the volume of deposits decreased by eight percent due to the closure of several banks. Without taking them into account, the population's deposits increased by 2.9 percent.
Some 83 percent of the population's deposits are protected by the Deposit Insurance Fund.
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