External liabilities of Azerbaijani banking sector fall 6%

Baku. 8 December. REPORT.AZ/ Total amount of external liabilities of Azerbaijani commericial banks as of November 1 totaled 2 550,3 million AZN.

Report informs referring to the Central Bank of Azerbaijan, it is 156.6 million AZN or 5.77% less than the figure of October 1 and 2.44-fold less than the corresponding period in 2016.

Analytical Group of Report News Agency states, a sharp decline of commercial banks' liabilities was caused by the transfer of external liabilities of International Bank of Azerbaijan (IBA) in the amount of $ 2 266 billion (3.85 billion AZN) to the government. As a result, external liabilities in dollar equivalent as of November 1 totaled $ 500 million.

The external liabilities of commercial banks reached the highest level this January and equaled to 8 071,7 million AZN or $ 4 211,7 million.