BAKU, Azerbaijan, March 11
By Kamran Gasimov - Trend:
The assets of the financial sector of Azerbaijan amounted to 52.6 billion manat ($30.9 billion) at the end of 2021, which is equivalent to 56.6 percent in the structure of gross domestic product (GDP), Trend reports citing the report of the Cabinet of Ministers of Azerbaijan on activities in 2021.
This is 14.6 percent more than at the end of the previous year (45.9 billion manat or $27 billion).
A total of 73.1 percent (51.2 billion manat or $30.1 billion) of the sector's assets were concentrated in banks, report said.
The share of non-bank credit institutions decreased from 27.1 percent to 24.2 percent, insurance companies (excluding assets under management) - from 2.9 percent to 2.5 percent and the share of investment companies increased from 0.1 percent up to 0.2 percent.