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Azerbaijani banks’ assets break record

Thursday, January 10
As of December 1, the total assets of the Azerbaijani banking sector reached a new absolute record to the amount of 16.821 billion manat compared to 16.309 billion manat as of November 1, which is considered a record level in 2012, the Azerbaijani Central Bank's statistics report published on its website said.

The assets of the banking system have a positive trend in 2012, because they hit 13.9 billion manat in early 2012. The assets have increased by 20.6 percent since early 2012 and by 23.1 percent per annum (13.664 billion manat as of December 1, 2011).

The loans given to customers to the amount of 10.493 billion manat (annual growth of 17.9 percent), investments (1.436 billion manat, increasing by 13.24 percent) and the funds on correspondent accounts (1.08 billion manat increasing by 3.9 percent) form the basis of the assets of the banking sector (62.4 percent). Loans and deposits given to the financial sector amounted to 736.4 million manat (with an increase of 33.82 percent).

The deposits (7.428 billion manat) form the main share (44.16 percent) in the structure of liabilities, increasing by 19.17 percent compared to the same period of last year. Loans and deposits obtained from the financial sector accounted for 4.883 billion manat, increasing by 14.77 percent.

There are 43 banks operating in Azerbaijan.

1manat equals 1,28 $. (Trend)