BAKU, Azerbaijan, March 4
By Eldar Janashvili – Trend:
According to the Azerbaijani Central Bank, the capitalization of the Azerbaijani banking sector by the end of January 2020 amounted to 4.6 billion manat ($2.7 billion), which is 61.2 million manat ($36 million) or 1.3 percent more than in early 2020.
In accordance with the report, the total assets of banks as of January 31, 2020 since the beginning of the year increased by 0.4 percent, reaching 32.9 billion manat ($19.3 billion).
During the reporting period, the amount of the banks’ cash amounted to almost 1.4 billion manat ($823 million).
There were 2.5 billion manat ($1.5 billion) on the correspondent accounts in the Central Bank while the funds in nostro accounts (correspondent accounts in other banks) reached 3.4 billion manat ($2 billion). The banks’ investments in securities reached 2.9 billion manat ($1.7 billion).
The banks have increased lending since the beginning of the year by 1.4 percent. As of January 2020, the total loan portfolio of banks amounted to over 15 billion manat ($8.8 billion). The reserves worth 1.5 billion manat ($883 million) were created on these loans.
According to CBA, the total liabilities of the country's banking sector increased by 0.3 percent and amounted to 28.2 billion manat ($16.6 billion).
The biggest share of liabilities accounted for deposits - 76.7 percent or 21.7 billion manat that’s $12.7 billion (an increase of 1.6 percent). The volume of deposits of individuals amounted to 8.4 billion manat ($4.9 billion), legal entities - 13.2 billion manat ($1.8 billion).
The banks’ liabilities to the Central Bank grew by 5.3 percent to 343.6 million manat ($202.1 million).
---
Follow the author on Twitter: @eldarjanashvili
(1 USD = 1.7 AZN on March 4)
