BAKU, Azerbaijan, Aug.3
By Zeyni Jafarov - Trend:
The value of net external assets of the Azerbaijani commercial banks as of early July 2021 increased, Trend reports referring to the statistical report of the Central Bank of Azerbaijan (CBA).
According to the report, this indicator exceeded 4 billion manat ($2.3 billion), up by 4.6 percent on annual basis.
The foreign assets were formed as a result of deducting total foreign assets in the amount of slightly over 5.4 billion manat ($3.1 billion) and external liabilities worth more than 1.13 billion manat ($660 million).
The deposit operations of commercial banks as of early July 2021 amounted to 19.55 billion manat ($11.5 billion), which is 15.3 percent more than in the same month of last year. Some 10.7 billion manat ($6.3 billion) of that volume accounted for deposits in national currency while over 8.8 billion manat ($5.1 billion) - for foreign currency.
According to S&P Global Ratings forecasts, the share of commercial banks in Azerbaijan's GDP will gradually decrease in 2021-2022, amounting to 20.5 percent and 19.6 percent, respectively while it will be at the level of 19.6 percent in 2023.
(1 USD = 1.7 AZN on Aug.3)
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