Azerbaijani banking sector's assets grow by 8%

As of February 1, 2024, the assets of Azerbaijan-based banks amounted to over 49,296.8 million manats ($29 billion), up 7.5% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans to customers amounted to 22,199.6 million manats ($13 billion). Year-on-year, the loan portfolio grew by 19.9%, and the share of loans in assets rose from 40.4% to 45%.

In the reporting period, the liabilities grew by 7.3% to 43,144.4 million manats ($25.4 billion), with the deposit portfolio rising by 6.1% to 34,995.4 million manats ($20.6 billion).

Total capital increased by 8.7% to 6,152.4 million manats ($3.6 billion).