External liabilities of Azerbaijani banks shrink

Baku. 15 January. REPORT.AZ/ Total volume of external liabilities of commercial banks in Azerbaijan amounted to 2 501 million AZN as of December 1, 2017.

Report informs referring to the Central Bank of Azerbaijan (CBA), this is 49.3 million AZN or 1.93% less than the figure of last November 1. As compared with same period of 2017, external liabilities of commercial banks decreased by 2.81-fold.

Analytical Group of Report News Agency says, sharp reduction of external liabilities of commercial banks was caused by transfer of external liabilities of International Bank of Azerbaijan (IBA) in amount of $ 2.266 billion (3.85 billion AZN) to the Azerbaijani government. As a result, external liabilities in dollar equivalent as of December 1, 2017, amounted to $ 1 471 million. As of November 1, this figure was $ 1 500 million, as of October 1 was $ 1 592 million, as of September 1, has made $ 3 779,1 million. In other words, external liabilities of banking sector in dollar equivalent reduced by $ 29 million in monthly comparison.

The highest level of external liabilities of commercial banks was recorded in January 2017 and equaled to 8 071,7 million AZN or $ 4 211,7 million.