Banking sector assets grew by about 7%


November 14, Fineko/abc.az. Assets of the banking sector increased by 6.3% (AZN 1.9 bn) compared with early 2019 and amounted to AZN 31.4 bn since 30 September.

ABC.AZ reports that the statement was made by Ibrahim Alyshov, the Acting Chairman of the Board of the Financial Markets Supervision Authority.

He pointed out that banks have stepped up lending activities and for the next period formed a sufficient liquid resource and capital buffer to continue financing.

Alyshov noted that loans given to customers amounted to AZN 13.87 million, including to business entities for AZN 8,539 and to small & medium-sized businesses for AZN 2.22 million: "Liquid assets amounted to 8.213 million and total assets for AZN 31.36 million. Easing the requirements on prudential regulations will stimulate the financing of business entities. The risk rates on business loans given to small & medium-sized businesses (from 100 to 50 percent in national currency) and on business loans aimed at financing exports (from 75 to 50 percent in national currency and from 100 to 75 percent in foreign currency) have decreased."