Total assets of Azerbaijan’s banking system for past 8 months exceed AZN 28 bn


September 19, Fineko/abc.az. The Financial Market Supervision Chamber (FIMSA) has announced banking sector statistics for the past 8 months of 2018.

FIMSA reports that as of 31 August 2018 country’s banking system total assets amounted to AZN 28.127 bn.

"On 31 August 2018 the loan portfolio totaled AZN 11.905 bn, liabilities AZN 24.08 bn, the balance capital of the banking sector AZN 4.049 bn, deposits AZN 7.939 bn," FIMSA said.

Over Jan-Aug 2018 banks' assets increased by AZN 206.1 million (0.74%) and balance capital by AZN 340.4 million (9.2%).

The loan portfolio grew by 5% or AZN 567.9 million, and deposit portfolio on individuals by 5.27% or AZN 397.4 million.

As of 31 August population’s fixed-term deposits reached AZN 5.69 bn (rise of 9.7% for Jan-Aug).

At the end of Jan-Aug 2018, the operating profit of country’s banking sector totaled AZN 441 million. The banks spent AZN 316.4 million on the formation of reserves for the reporting period. As a result, the net profit of the banking sector for Jan-Aug of the year reached AZN 103.8 million.

Over the reporting term the 30 banks operating in the country numbered 511 branches, 143 sub-branches, 2,468 cash machines. Or the past 8 months of 2018 the personnel in the banking sector increased by 757 up to 16,928 employees.