Net foreign assets of Azerbaijan’s banks grow by over 15% YoY

As of July 1, 2024, Azerbaijani banks held net foreign assets totaling more than 24.176 billion manats (over $14.221 billion), Report informs, referring to the Central Bank of Azerbaijan (CBA).

This amount represents a 1.6% decrease from the previous month, a 4.1% decline from the beginning of the year, and a 15.2% increase compared to the same period last year.

Additionally, by the end of June 2024, the net internal assets of Azerbaijan’s banks stood at just under 20.886 billion manats (approximately $12.286 billion). This figure reflects a 3% monthly increase, a 5.2% rise since the start of the year, and a 3.1% growth year-on-year.

Overall, 22 banks operate in Azerbaijan.