Net foreign assets of Azerbaijani banks reach nearly $29B manats

As of November 1, Azerbaijani banks held net foreign assets totaling 28.58 billion manats ($16.8 billion), according to the Central Bank of Azerbaijan (CBA), Report informs.

The figure is 6.8% higher compared to the previous month, 7.4% higher than at the beginning of the year, and 8.7% higher than the same date last year.

Banks' net domestic assets amounted to 18.91 billion manats ($11.1 billion), reflecting a 10.9% monthly decline and a 4.9% decrease since the start of the year, but a 4.1% increase compared to November 1 of last year.

A total of 22 banks operate in Azerbaijan, with combined assets of 56.34 billion manats ($33.14 billion).