BAKU, Azerbaijan, Nov. 26
By Eldar Janashvili – Trend:
As of October 31, 2019, the total assets of the banks operating in Azerbaijan amounted to over 31.4 billion manat ($18.5 billion), the total amount of obligations - 26.6 billion manat ($15.7 billion), Trend reports referring to the Azerbaijani Financial Market Supervisory Authority (FIMSA).
The equity of the banking sector has reached 4.7 billion manat ($2.8 billion).
The loan portfolio in the structure of assets of Azerbaijani banks amounted to 44.9 percent in October. The loan portfolio increased by 1.5 percent which is 202.8 million manat ($119.5 million) for the month. The total loan portfolio of banks at the end of the month amounted to over 14 billion manat ($8.2 billion).
The deposits of individuals amounted to over 8.7 billion manat ($5.1 billion) in October 2019, which is an increase of 2.4 percent, that is, 206.3 million manat ($121.6 million). The deposits increased mainly due to an increase in demand deposits. Thus, demand deposits for the month increased by 5.5 percent that is 165.1 million manat ($97.3 million).
The total deposits of legal entities decreased by234.7 million manat ($138.3 million) to 11.3 billion manat ($6.7 billion) in October. The fixed-term deposits of legal entities decreased by 152 million manat ($89 million), to 2.5 billion manat ($1.5 billion) for the month. Nevertheless, since the beginning of the year, total deposits of legal entities increased by 9.9 percent which is over 1 billion manat ($589 million).
The equity of the banking sector in October increased by one percent which is 45.5 million manat ($26.8 million) and amounted to over 4.7 billion manat ($2.8 billion).
The operating profit of the banks amounted to 723.6 million manat ($426.5 million), net profit - 572.9 million manat ($337.7 million) in October. The interest income increased by 10.2 percent while interest income on loans increased by 14.3 percent in October 2019 compared to October 2018.
The number of branches of 30 operating banks is 515, the number of departments is 130, the number of ATMs is 2,612. The number of employees in the banking sector continued to grow in October. So, the number of employees increased by one percent (197 people) and reached 19,108 people in October 2019.
(1 USD = 1.7 AZN on Nov. 26)
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