Azerbaijan-based banks’ assets exceed $23B

As of May 1, 2022, the assets of Azerbaijan-based banks amounted to 40.149 billion manats ($23.62 billion), up 22.4% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans issued to customers amounted to 16.645 billion manats ($9.79 billion). Year-on-year, the loan portfolio grew 23.9%, and the share of loans in assets rose from 41% to 41.5%.

In the reporting period, the liabilities grew by 25.3% to 35.159 billion manats ($20.68 billion), with the deposit portfolio rising by 33.9% to 28.613 billion manats ($16.83 billion). Individuals accounted for 10.340 billion manats ($6.08 billion), while legal entities made up 18.273 billion manats ($$10.75 billion).

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 12.2% to 326 million manats ($191.76 million), and net worth surged by 5.5% to 4.990 billion manats ($2.94 billion).