Azerbaijani banking sector's assets surge

15:12 - 22.05.2024

May 22, Fineko/ As of May 1, 2024, the assets of Azerbaijan-based banks amounted to over 49.2 bn manats (about $29 bn), up 8% from a year earlier.

ABC.AZ reports that according to the CBA, the loans to customers amounted to 23.225 bn manats (about $13.6 bn). Year-on-year, the loan portfolio grew by 21.2%, and the share of loans in assets rose from 42% to 47.2%.

In the reporting period, the liabilities grew by 7.9% to 42,897.7 million manats (about $25.2 bn), with the deposit portfolio rising by 9.25% to 35.36 bn manats (about $20.8 bn). Of that, 13.2 bn manats (about $7.77 bn) are physical deposits, and 22.15 bn manats (over $13 bn) are deposits of legal entities.

During one-year period of time (March 1, 2023 through March 1, 2024), the funds of the population in banks increased by 10.5%, and the funds of companies in banks grew by 8.5%.

Meanwhile, the liabilities of banks to the Central Bank of Azerbaijan in the last 1 year, decreased by 56.6% times and amounted to 47.1 million manats (about $27.7 million).

Total capital increased by 8.8% to 6,323.9 million manats (about $3.71 billion).