Azerbaijani banking sector's assets rise by 3%

As of November 1, 2023, the assets of Azerbaijan-based banks amounted to over 46,146.6 million manats ($27.16 billion), up 3.3% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans to customers amounted to 21,113.2 million manats ($12.42 billion). Year-on-year, the loan portfolio grew by 15.5%, and the share of loans in assets rose from 40.9% to 45.8%.

In the reporting period, the liabilities grew by 2.6% to 40,233 million manats ($23.7 billion), with the deposit portfolio rising by 2.8% to 33,081.9 million manats ($19.46 billion). Individuals accounted for 12,271.1 million manats ($7.22 billion), while legal entities' deposits made up 20,810.8 million manats ($12.24 billion). During the year, the funds of the population in banks increased by 9%, and the funds of companies in banks decreased by 0.6%.

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 2.9 times to 92 million manats ($54.11 million), and total capital surged by 8.9% to 5,913.6 million manats ($3.5 billion).