Azerbaijan’s banking sector assets grow 10%

As of August 1 this year, the assets of Azerbaijan’s banking sector amounted to 33.668 billion manats, Report informs referring to the Central Bank of Azerbaijan.

This is 10.4 percent more than as of August 1 last year.

In the structure of banks’ assets, net loans issued to clients amounted to 13.757 billion manats. Over the past year, the sector’s loan portfolio grew by 6.6 percent, while the share of loans in assets fell from 42.3 percent to 40.9 percent.

During the reporting period, the liabilities of the banking sector increased by 11.8 percent, to 28.899 billion manats, the deposit portfolio increased by 18 percent, to 22.849 billion manats. Of these, 8.439 billion manats are deposits of individuals, and 14.409 billion manats are deposits of legal entities. Over the year, households’ funds in banks grew by 10 percent, and companies’ funds in banks - by 23.2 percent.

Over the past year, banks’ liabilities to the CBA decreased by 2.9 percent and amounted to 371 million manats.

The sector’s balance capital increased by 2.4 percent and amounted to 4.768 billion manats.