Azerbaijan's banking sector assets grow over 12%

As of September 1 of this year, the assets of the banking sector in Azerbaijan reached 62,475.9 million manats, Report informs, citing the Central Bank of Azerbaijan.

This represents a 12.2% increase compared to September 1 of last year.

By the end of August, the volume of net loans issued to clients by Azerbaijani banks totaled 30,841.3 million manats. Over the year, this figure grew by 14.3%, while the share of loans in total bank assets increased from 48.5% to 49.4%.

The banking sector's liabilities during the same period rose by 12.6%, reaching 54,722.7 million manats.

The total deposit portfolio increased by 14.45% to reach 41,792.5 million manats. Of this total, 17,810.9 million manats were accounted for by individual deposits, while 23,981.6 million manats represented corporate deposits. Year-over-year, these figures grew by 18.1% and 11.9%, respectively.

Banks' liabilities to the Central Bank of Azerbaijan decreased by approximately 20% to 0.4 million manats. The sector's total equity capital increased by 9.55%, reaching 7,753.2 million manats.

($1=1.7 manats)