Azerbaijani banking sector's assets rise by 2%

As of December 1, 2023, the assets of Azerbaijan-based banks amounted to over 46,172.5 million manats ($27.2 billion), up 1.5% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans to customers amounted to 21,511.2 million manats ($12.7 billion). Year-on-year, the loan portfolio grew by 16.5%, and the share of loans in assets rose from 40.6% to 46.6%.

In the reporting period, the liabilities grew by 0.5% to 40,160.4 million manats ($23.6 billion), with the deposit portfolio rising by 1.1% to 33,225.7 million manats ($19.5 billion). Individuals accounted for 12,253.5 million manats ($7.2 billion), while legal entities' deposits made up 20,972.2 million manats ($12.3 billion). During the year, the funds of the population in banks increased by 8.1%, and the funds of companies in banks decreased by 2.6%.

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 4.4 times to 50.6 million manats ($29.8 million), and total capital surged by 8.9% to 6,012.1 million manats ($3.5 billion).