External liabilities of Azerbaijani banks shrink by 4%

Baku. 14 July. REPORT.AZ/ External liabilities of commercial banks based in Azerbaijan have reached 6 829,2 mln. AZN by July 1, 2017.

Report informs referring to the Central Bank of Azerbaijan (CBA), it is 270,1 mln. AZN less compared to the indicator before May 1. However, external liabilities of commerical banks increased by 135,5 mln. AZN or 2,02% compared to the same period in 2016. Notably, the decrease in external liabilities has been lasting for 4 months in a row.

Analytical Group of Report News Agency considers, the process of gradual decrease of commercial banks' external liabilities will continue in a context of the stabilizing of manat's currency rate.

As of June 1, the external liabilities were $ 4 012,5 mln.

It should be noted that the record level of the external liabilities of commercial banks was registered on February 1, 2017, and was equal to 8 071,7 mln. AZN or $ 4 211,7 mln. Thus, the external liabilities of the banking sector have decreased by 199,2 mln. USD or by 4,7% since the start of this year.