BAKU, Azerbaijan, April 8
By Zeyni Jafarov - Trend:
The net external assets of the Azerbaijani commercial banks as of early March 2021 increased by 4.9 percent on an annualized basis up to 4.5 billion manat ($2.6 billion), Trend reports 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 through deducting total external assets in the amount of more than 5.8 billion manat ($3.4 billion) and external liabilities in the amount of 1.1 billion manat ($647 million).
The deposit operations of commercial banks in the reporting period amounted to 18.1 billion manat ($10.6 billion), which is 4.8 percent less than in the same period of last year. Some 9.1 billion manat ($5.3 billion) of that volume accounted for the deposits in national currency, 8.9 billion manat ($5.2 billion) - in foreign currency.
In accordance with S&P Global rating forecasts, the share of commercial banks in Azerbaijan's GDP will gradually decrease in 2021 and 2022, amounting to 20.5 percent and 19.6 percent, respectively and it will reach 19.6 percent in 2023.
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