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    Foreign liabilities of commercial banks in Azerbaijan increased by 2%

    Despite the increase in the volume of external liabilities by 70%, they decreased in real terms

    Baku. 10 March. REPORT.AZ/ Volume of total foreign liabilities of commercial banks inAzerbaijan made 8 385.9 million AZN on February 1, 2016. Report informs refererring to the Central Bank of Azerbaijan Republic (CBAR), since the beginning of the year the volume of foreign liabilities increased by 181.4 million AZN or 2.2%, in comparison with the same period of last year -. 3 450.3 mln. AZN or 70%.

    Analytical Group of Report News Agency believes that the growth of foreign liabilities in manat equivalent associated with the devaluation of the manat more than 2 times during 2015. Despite the increase in the volume of external liabilities by 70%, they decreased in real terms. It is predicted that the commercial banks to further reduce external liabilities of the weakening exchange rate of manat.

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