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CBA discusses impact of global economic trends on Azerbaijan's banking sector

Finance Materials 23 February 2023 11:04 (UTC +04:00)
CBA discusses impact of global economic trends on Azerbaijan's banking sector
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 23. The Central Bank of Azerbaijan (CBA) discussed the impact of global economic trends on the financial and banking sector, Trend reports via the tweet of CBA Governor Taleh Kazimov.

"A regular meeting was held at the Central Bank with the heads of banks operating in the country. During the meeting, the latest macroeconomic trends and forecasts, as well as the results of the banking sector for 2022 were presented,” the tweet said.

“During the presentations, global macroeconomic processes, inflation, the impact of the parameters of the interest rate corridor on the money market, the impact of the latest global economic trends on the financial and banking sector and other topical issues were discussed,” the tweet noted.

Besides, the tweet noted that the credit portfolio of Azerbaijani banks in 2022 grew by 17.6 percent compared to 2021 - up to 19.6 billion manat ($11.5 billion), and assets by 22.3 percent - up to 47.1 billion manat ($27.7 billion).

As of December 31, 2022, the share of business loans in the structure of credit portfolio made up 55.4 percent (10.85 billion manat or $6.37 billion, growth of 11.45 percent year over year), consumer loans – 29.36 percent (5.75 billion manat or $3.38 billion, growth of 27.36 percent), and mortgage loans – 15.24 percent (2.98 billion manat or $1.75 billion, growth of 24.38 percent year over year).

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