BAKU, Azerbaijan, Apr.8
By Zeyni Jafarov - Trend:
The volume of demand for services of commercial banks in Azerbaijan amounted to 14.9 billion manat ($8.76 billion) as of early March 2021, Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, on an annualized basis, this figure decreased by 3.3 percent, or 513.3 million manat ($301.9 million).
During February 2021, the given figure increased by 62.8 million manat ($36.9 million) year on year, or 0.4 percent.
According to 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. In 2023, it will be at 19.6 percent.
(1 USD = 1.7 manat on Apr.8)
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