BAKU, Azerbaijan, July 26. There are no risks to closing banks in the financial sector of Azerbaijan today, Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during the press conference on changes in the parameters of the discount rate, Trend reports.
He noted that the CBA is primarily aimed at ensuring the stability of the financial market.
"No financial organization—banks, insurance companies, or investment companies—meeting the requirements of the CBA and conducting stable financial activities will face problems or risks for their possible closure," he pointed out.
The net profit of Azerbaijani banks amounted to 563.3 million manat ($331.3 million), and operating profit - 772.3 million manat ($454.2 million), in the first half of 2023.
The assets of Azerbaijani banks amounted to over 45.2 billion manat ($26.5 billion) from January through June 2023. The banks' loan portfolio increased by 3.1 percent (637 million manat or $374.7 million) to 21.2 billion manat ($12.4 billion).
The total liabilities of the country's banks amounted to more than 39.3 billion manat ($23.1 billion), and the balance sheet capital was about 5.9 billion manat ($3.4 billion).