Azerbaijan-based banks’ assets up 27%

As of August 1, 2022, the assets of Azerbaijan-based banks amounted to 42.404 billion manats ($24.94 billion), up 26.9% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans issued to customers amounted to 17.473 billion manats ($10.28 billion). Year-on-year, the loan portfolio grew 25%, and the share of loans in assets dropped from 41.8% to 41.2%.

In the reporting period, the liabilities grew by 29.8% to 37.138 billion manats ($21.85 billion), with the deposit portfolio rising by 33.8% to 30.437 billion manats ($17.9 billion). Individuals accounted for 10.632 billion manats ($6.25 billion), while legal entities made up 19.805 billion manats ($$11.65 billion).

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 25.9% to 274.7 million manats ($161.59 million), and net worth surged by 9.4% to 5.266 billion manats ($3.1 billion).