Baku, Azerbaijan, July 27
By Azad Hasanli – Trend:
Assets of the banking sector of Azerbaijan amounted to 27.99 billion manats in June 2018, having increased by 0.25 percent from the beginning of the year, as appears from the report of the Financial Markets Supervision Chamber.
The sector's assets grew by 0.3 percent over a quarter.
The banks increased lending by 3.3 percent to 11.7 billion manats during the reporting period (by 4.1 percent over a quarter). Reserves were created for these loans to cover possible losses of 1.64 billion manats.
Loans from financial institutions amounted to 208.6 million manats (a decrease of 19.6 percent since the beginning of the year, an increase of 18.5 percent over a quarter). Banks also increased investments in securities by 18 percent since the beginning of the year, and by 28.14 percent over a quarter to 2.95 billion manats.
The deposits portfolio of banks also shows growth. They reached 17.25 billion manats having increased by 2.1 percent since the beginning of the year (by 3.2 percent over a quarter). At the same time, while deposits of individuals increased (by 6.3 percent to 8.02 billion manats) since the beginning of the year, the deposits of legal entities, on the contrary, decreased (by 1.27 percent to 9.23 billion manats). However, both indicators grew by 5.8 and 1.06 percent, respectively, over a quarter.
The banks' liabilities to the Central Bank amounted to 438.8 million manats (a decrease of 13.55 percent since the beginning of the year, and 12.06 percent – over a quarter). The total liabilities of the banks have decreased by 0.5 percent since the beginning of the year, but increased by 0.2 percent over a quarter, amounting to almost 24.09 billion manats.
---
Follow the author on Twitter: @AzadHasanli
