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Assets of Azerbaijan's banking sector increase in 2022

Finance Materials 1 February 2023 16:25 (UTC +04:00)
Assets of Azerbaijan's banking sector increase in 2022
Samir Ali
Samir Ali
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BAKU, Azerbaijan, February 1. The assets of Azerbaijan's banking sector increased by 22.3 percent in 2022, reaching 47 billion manat ($27.6 billion), said Director General of Azerbaijan's Central Bank (CBA) Togrul Aliyev, Trend reports.

According to him, the banking sector's liquidity ratio twice exceeded the CBA's demand.

"In addition, there was an increase in the deposit portfolio. Thus, the portfolio of deposits of individuals increased by 27 percent, and those of legal entities - by 24 percent," he said.

"Moreover, I would also like to note that over the past year, the loan portfolio of banks also increased by 17.6 percent and reached 19.6 billion manat ($11.5 billion). Business loans account for 55.4 percent of this portfolio, which is 11 percent more than last year. Currently, it amounts to 11 billion manat ($6.4 billion)," said Aliyev.

The total assets of Azerbaijan's banks as of January 1, 2023, exceeded 47 billion manat ($27.6 billion), while total liabilities accounted for 41.4 billion manat ($24.3 billion), and the total capital equaled 5.6 billion manat ($3.2 billion). Assets, and liabilities as well as the capital of the banking sector increased by 22.34, 23.71, and 13.14 percent, respectively, compared to the same period in 2021.

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