Azerbaijan's banking sector assets grow by nearly 8%

As of February 1, 2025, the assets of Azerbaijan's banking sector amounted to over 53 billion manats (almost $31.23 billion), representing a 7.7% increase year-on-year, Report informs, citing the Central Bank of Azerbaijan.

Net loans to customers made up over 27.5 billion manats ($16.18 billion) of banks' assets. Over the past year, the sector's loan portfolio grew by 23.9%, while the share of loans in assets increased from 45% to 51.8%.

In the specified period, the banking sector's liabilities increased by 7.55% to just over 46.4 billion manats (approximately $27.3 billion), including the deposit portfolio which increased by 5.7% to approximately 37 billion manats (over $21.7 billion). Of this, over 14.38 billion manats (just over $8.46 billion) are deposits of individuals, and about 22.57 billion manats ($13.28 billion) are deposits of legal entities. During the year, individuals' funds in banks rose by 12.1%, while companies' funds grew by 1.9%.

Over the past year, banks' liabilities to the Central Bank of Azerbaijan decreased by 100%.

The sector's balance capital increased by 8.7% to roughly 6.7 billion manats (over $3.93 billion).