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Volume of assets in Azerbaijan's banking sector revealed

Finance Materials 31 March 2023 11:45 (UTC +04:00)
Volume of assets in Azerbaijan's banking sector revealed
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 31. The total assets of Azerbaijan's banks exceeded 45.7 billion manat ($26.8 billion) as of February 28, 2023, Trend reports via the Central Bank of Azerbaijan (CBA).

According to the CBA, Azerbaijani banks' total liabilities accounted for 39.9 billion manat ($23.4 billion) while their total capital equaled 5.7 billion manat ($3.3 billion)

Compared to the same period in 2021, assets, liabilities, as well as the capital of the banking sector increased by 18.77, 19.6, and 13.34 percent, respectively.

As the CBA noted, the loan portfolio of Azerbaijan's banks increased by 0.45 percent (88 million manat or $51.7 million) compared to the figure as of January 31, 2023, and reached 19.7 billion manat ($11.5 billion).

In the structure of liabilities of Azerbaijani banks in the reporting period, the deposit portfolio prevailed (81.45 percent of the total volume of liabilities). The deposit portfolio of banks as of February 28, 2023, amounted to 32.56 billion manat ($19.1 billion).

In 2022, the total profit of Azerbaijani banks amounted to 914 million manat ($537 million), which is 50 percent or 305 million manat ($179 million) more than the year before. According to the CBA, 24 out of 25 banks made a profit.

The growth rate of bank profits in 2022 exceeded the growth rate of assets, which in turn led to an increase in the return on assets (RoA) in the banking sector by 0.4 percentage points, up to 2.2 percent. At the same time, the return on equity (RoE) increased by 3.9 percentage points in 2022 to 18.9 percent.

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