Azerbaijan-based banks’ assets near $27B

As of December 1, 2022, the assets of Azerbaijan-based banks amounted to over 45.490 billion manats (over $26.76 billion) for the first time, up 27.8% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans issued to customers amounted to 18.468 billion manats (more than $10.86 billion). Year-on-year, the loan portfolio grew 22.3%, and the share of loans in assets dropped from 42.4% to 40.6%.

In the reporting period, the liabilities grew by 30.5% to 39.970 billion manats ($23.951 billion), with the deposit portfolio rising by 32.8% to 32.861 billion manats ($19.33 billion). Individuals accounted for 11.340 billion manats ($6.67 billion), while legal entities made up 21.521 billion manats ($12.66 billion).

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 31.4% to 222.4 million manats ($130.82 million), and net worth surged by 11% to 5.520 billion manats ($3.25 billion)