Azerbaijani banking sector's assets up by 9%

As of April 1, 2024, the assets of Azerbaijan-based banks amounted to over 48,909.9 million manats (over $28.77 billion), up 9.1% from a year earlier, Report informs, citing the Central Bank of Azerbaijan (CBA).

The loans to customers amounted to 22,707.6 million manats (over $13.36 billion). Year-on-year, the loan portfolio grew by 20.5%, and the share of loans in assets rose from 42% to 46.4%.

In the reporting period, the liabilities grew by 9.3% to 42,612.5 million manats ($25.07 billion), with the deposit portfolio rising by 9% to 34,812.8 million manats ($20.48 billion). Individuals accounted for 12,868.5 million manats (about $7.57 billion), while legal entities' deposits made up 21,944.3 million manats (over $12.91 billion).

Meanwhile, the liabilities of banks to the Central Bank of Azerbaijan over the past year showed a 2.5-fold decrease and settled at 47.1 million manats (about $27.7 million).

Total capital increased by 7.7% to 6,297.5 million manats (about $3.7 billion).