Azerbaijani banking sector's assets rise by 5%

As of January 1, 2024, the assets of Azerbaijan-based banks amounted to over 49,178.2 million manats ($29 billion), up 4.5% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans to customers amounted to 21,844.7 million manats ($12.9 billion). Year-on-year, the loan portfolio grew by 18.5%, and the share of loans in assets rose from 39.2% to 44.4%.

In the reporting period, the liabilities grew by 4.1% to 43,114.8 million manats ($25.4 billion), with the deposit portfolio rising by 2.3% to 34,550.1 million manats ($20.3 billion), and the total capital increased by 7.85% to 6,063.4 million manats ($3.6 billion).