Azerbaijani banking sector's assets rise by 4%

As of October 1, 2023, the assets of Azerbaijan-based banks amounted to over 45,530.5 million manats ($26.8 billion), up 4.3% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans to customers amounted to 20,987.3 million manats ($12.3 billion). Year-on-year, the loan portfolio grew 16.7%, and the share of loans in assets rose from 41.2% to 46.1%.

In the reporting period, the liabilities grew by 3.3% to 39,539.1 million manats ($23.2 billion), with the deposit portfolio rising by 2.6% to 32,174.2 million manats ($19 billion). Individuals accounted for 12,418.4 million manats ($7.3 billion), while legal entities' deposits made up 19,755.8 million manats ($11.6 billion). During the year, the funds of the population in banks increased by 13%, and the funds of companies in banks decreased by 3.1%.

The liabilities of the banks to the Central Bank of Azerbaijan (CBA) dropped by 2.5 times to 107.7 million manats ($63.28 million), and total capital surged by 12.1% to 5,991.4 million manats ($3.5 billion).