Vusal Gasimli: Liquidity in banking sector exceeds average rate by two times

The level of capitalization and liquidity in Azerbaijan's banking sector exceeds the average rate by two times, the Executive Director of the Economic Reforms Analysis and Communication Center, Vusal Gasimli, said at the 6th International Banking Forum held in Baku within the framework of the cooperation with the Mastercard international payment system, Report informs.

"In the last 10 years, the share of bank assets in the gross domestic product (GDP) has increased from 26.8% to 44.3%. Credit investments in the economy increased by 9.9 billion manats ($5.8 billion) to 17.1 billion manats ($10 billion)," he said.

According to the "Strategy of socio-economic development for 2022-2026", the assets in the banking sector are expected to grow 8% annually, the loan portfolio 10% annually, business loans 6% annually, loans granted to micro, small and medium businesses 15% annually, and the insurance market 10% annually.