Banking sector in Azerbaijan shrinks over 16% since start of 2017

Baku. 11 December. REPORT.AZ/ Total assets of banking sector in Azerbaijan have made 26 311.6 mln AZN as of November 1.

Report informs referring to the Financial Market Supervisory Authority of the Republic of Azerbaijan (FIMSA), this figure is less by 16.3% than in the beginning of 2017.

38.2% of assets or 10 056.5 mln AZN accounted for net credit to customers. Over the past 10 months, loan portfolio has dropped 29.4%.

In reporting period, total liabilities of banks decreased by 21.4% and dropped to 23 216.6 mln AZN, as well deposit portfolio decreased by 4.7% to 15 640.4 mln AZN. 7 250.2 mln AZN of this amount are deposits of physical persons, 8 390.2 mln AZN of legal persons. In January-October, deposits of population dropped by 2.45% and funds of companies by 6.55%.

From the beginning of 2017, liabilities of banks to the Central Bank of Azerbaijan (CBA) decreased by 66.6% to 566.6 mln AZN.

During this period, total capital of the banking sector increased by 62.1% to 3,095 million AZN.