Azerbaijani banking sector assets exceed AZN35B for first time

As of December 1, the assets of the Azerbaijani banking sector amounted to 35,604,500,000 manats, 15.8% more than January 1, 2020, Report informs, citing the Azerbaijani Central Bank.

For the first time, banks' assets exceed AZN35 billion.

Of the banks' assets, 15,097,000,000 manats were net loans to customers. Over the past year, the sector's loan portfolio grew by 15.2%, while the share of loans in assets fell from 42.6% to 42.4%.

During the reporting period, the liabilities of the banking sector surged by 17.4% to 30,632,000 manats, including the deposit portfolio increased by 28.1% to 24,743,600 manats. Of this, 8,880,900 manats are deposits of individuals and 15,862,700 manats are deposits of legal entities. During the year, the population's deposits in banks increased by 13.9%, and companies' deposits in banks increased by 37.8%.

Over the past year, banks' liabilities to the Azerbaijani Central Bank decreased by 38.3% to 324,200,000 manats.

The net worth of the sector rose by 6.7% to 4,972,100 manats.