Azerbaijan's banking sector assets lowered more than by 16%


December 11, Fineko/ Azerbaijan's banking sector assets reduced more than by 16% since early 2017.

The Financial Markets Supervision Chamber informs that total liabilities amounted to AZN 23.216 bn.

As of 1 November total assets of Azerbaijan’s banking sector reached AZN 26.3 bn that is by 16.3% compared to the early 2017 index.

The loans given to customers amounted to AZN 10.056 bn or 38.2% of total bank assets. Over the first 10 months of the year the banks’ credit portfolio shrank by 29.4%.

For the reported period banks’ total liabilities declined by 21.4% to 23.216 bn and deposit portfolio by 4.7% to AZN 15.6 bn. Of them, AZN 7.25 bn fell on retail deposits and AZN 8.39 bn on deposits of legal entities. Population’s deposits reduced by 2.45% and companies’ deposits by 6.55% for Jan-Oct of the year.

Since the beginning of the year banks’ liabilities to the Central Bank of Azerbaijan lowered by 66.6% to AZN 566.6 million.

During this period the overall capital of credit organizations increased by 62.1% and amounted to AZN 3.095 bn.