Azerbaijan-based banks get 24% growth in assets

As of August 1, 2022, the assets of the banking sector of Azerbaijan amounted to 41.589 billion manats ($24.46 billion), 23.5% more than a year ago, Report informs, citing the Central Bank of Azerbaijan.

The loans issued to customers amounted to 17.275 billion manats ($10.16 billion). Year-on-year, the loan portfolio grew 25.6%, and the share of loans in assets rose from 40.9% to 41.5%.

In the reporting period, the liabilities grew by 25.7% to 36.450 billion manats ($21.44 billion), with the deposit portfolio rising by 29.55% to 29.600 billion manats ($17.41 billion). Individuals accounted for 10.605 billion manats ($6.24 billion), while legal entities made up 18.995 billion manats ($$11.17 billion).

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 25.8% to 275.4 million manats ($162 million), and net worth surged by 7.8% to 5.139 billion manats ($3.02 billion).