Azerbaijan-based banks post about 21% growth in assets

As of February 1, 2023, the assets of Azerbaijan-based banks amounted to over 45,861.9 million manats (over $27 billion), up 20.7% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans issued to customers amounted to 18.509 billion manats (more than $10.89 billion). Year-on-year, the loan portfolio grew 18.4%, and the share of loans in assets dropped from 41.2% to 40.4%.

In the reporting period, the liabilities grew by 22% to 40.200 billion manats ($23.65 billion), with the deposit portfolio rising by 22.3% to 32.969 billion manats ($19.39 billion). Individuals accounted for about 11.687 billion manats ($6.87 billion), while legal entities made up 21.282 billion manats ($12.52 billion).

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 32.2% to 215 million manats ($126.47 million), and net worth surged by 12.6% to roughly 5.662 billion manats ($3.33 billion)