Azerbaijan-based banks post about 19% growth in assets

As of March 1, 2023, the assets of Azerbaijan-based banks amounted to over 45,708.6 million manats (over $26.9 billion), up 18.8% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans issued to customers amounted to 18,562.6 million manats (more than $10.9 billion). Year-on-year, the loan portfolio grew 16.2%, and the share of loans in assets dropped from 41.5% to 40.6%.

In the reporting period, the liabilities grew by 19.6% to 39,972.5 million manats ($23.5 billion), with the deposit portfolio rising by 20.35% to 32,560.8 million manats ($19.2 billion). Individuals accounted for about 11,653.9 million manats ($6.9 billion), while legal entities made up 20,906.9 million manats ($12.3 billion). During the year, the funds of the population in banks increased by 18.1%, and the funds of companies in banks increased by 21.65%.

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 32.3% to 214.7 million manats ($126.3 million), and net worth surged by 13.3% to roughly 5,736.1 million manats ($3.4 billion).