Azerbaijan's banking sector shrink more than 16%

Baku. 5 January. REPORT.AZ/ Total assets of the Azerbaijani banking sector made 26,393.9 mln AZN by December 1, 2017.

Report informs referring to the Financial Market Supervisory Authority (FIMSA), this figure is less by 16.05% than in the beginning of the year.

38.4% of banks' assets or 10,143.5 mln AZN consists of net credit to customers. Over the last 11 months, the sector's loan portfolio dropped by 28.8%.

During the reporting period, total liabilities of banks decreased by 21.25% to 23,255 mln AZN, as well as deposit portfolio decreased by 4.2% to 15,723 mln AZN, 7,346.6 mln AZN of which accounts for deposits of physical persons, 8,376.4 mln AZN of legal persons. In January-November, the population's deposits declined by 1.1%, and the company's funds by 6.7%.

From the beginning of year, liabilities of banks to the Central Bank of Azerbaijan decreased by 67.65% to 548.6 mln AZN.

During this period, total capital of the banking sector increased by 64.45% to 3,138.9 mln AZN.