Azerbaijan's banking sector assets rise by 5%

As of May 1, the assets of Azerbaijan's banking sector amounted to 57.36 billion manats, 5% more compared to May 1 of last year, Report informs with reference to the Central Bank of Azerbaijan (CBA).

Net loans issued to customers accounted for 28.73 billion manats of banks' assets. Over the past year, the sector's loan portfolio grew by 8.7%, and the share of loans in assets rose from 48.4% to 50.1%.

During the reporting period, the banking sector's liabilities increased by 4.35% to 49.7 billion manats, including the deposit portfolio, which grew by 2.8% to 37.77 billion manats.

Of this, 17.27 billion manats are deposits of individuals, and 20.5 billion manats are deposits of legal entities. Over the year, the funds of the population in banks decreased by 18.7%, while the funds of companies in banks decreased by 7.7%.

Over the past year, banks' liabilities to the Central Bank of Azerbaijan decreased by approximately 20%, amounting to 0.4 million manats.

The sector's balance capital increased by 9.7%, amounting to 7.66 billion manats.

1 manat=$0.59