Azerbaijan's banking sector assets rise 17.1% year-on-year

As of December 1 this year, the total assets of Azerbaijan's banking sector amounted to 58.75 billion manats ($34.56 billion), a 17.1% increase compared to December 1 last year, Report informs, citing the Central Bank of Azerbaijan (CBA).

Net loans issued to customers totaled 27.92 billion manats ($16.42 billion). Over the past year, the sector's loan portfolio grew by 8.4%, while the share of loans in total assets declined from 51.4% to 47.5%.

During the reporting period, banking sector liabilities increased by 18% to 51.52 billion manats ($30.3 billion). The deposit portfolio rose by 5.7% to 37.2 billion manats ($21.88 billion), including 15.85 billion manats ($9.32 billion) in deposits from individuals and 21.35 billion manats ($12.56 billion) from legal entities. Over the year, household deposits grew by 14.3%, while corporate deposits increased by 0.1%.

Over the same period, banks' liabilities to the CBA decreased sevenfold to 0.5 million manats ($294,117).

The sector's total capital increased by 11.2% year-on-year, reaching 7.23 billion manats ($4.25 billion).