BAKU, Azerbaijan, June 6
Zeyni Jafarov - Trend:
The Central Bank of Azerbaijan (CBA) announced the volume of foreign exchange reserves during the first week of June.
The volume of foreign exchange reserves of the CBA as of late May 2021 increased by 0.7 percent compared to the same period of 2020.
The total volume of the monetary base increased on an annualized basis by 2.9 billion manat ($1.7 billion) or by 26.9 percent in Azerbaijan as of late May 2021, the CBA said.
According to the CBA, the monetary base amounted to 13.8 billion manat ($8.1 billion) in Azerbaijan as of late May 2021.
The total profit in the Azerbaijani banking sector as of early May 2021 has grown.
According to the report, in the specified period this indicator amounted to 194.7 million manat ($114.5 million).
Meanwhile, the banks' net interest income reached 476.2 million manat ($280.1 million, an increase of 3.5 percent on annual basis) and was formed through the interest income.
The total assets of Azerbaijani banks exceeded 32.8 billion manat ($19.3 billion) during the first 4 months of 2021 while liabilities increased by 5.1 percent compared to the same period of 2020, amounting to 28.06 billion manat ($16.5 billion).
The data on fees in the Azerbaijani insurance market as of early May 2021 have been disclosed.
In accordance with the report, the total amount of the fees made up 339.1 million manat ($199.4 million) while payments - about 180 million manat ($105.9 million) in the first four months of 2021.
The World Bank Board of Directors is expected to approve the Azerbaijan COVID-19 Emergency Response Project in early September 2021, WB said during the outgoing week.
The cost of the project is currently unknown, but the amount of the loan that the bank plans to allocate for its implementation may amount to up to $95 million.
Strengthening of the Azerbaijani manat rate compared to the euro and a decrease in prices for precious metals have been observed in Azerbaijan this week.
Department of Economy of Trend News Agency