BAKU, Azerbaijan, Feb. 19
By Zeyni Jafarov - Trend:
The demand of commercial banks in Azerbaijan amounted to 14.8 billion manat ($8.7 billion) in January 2021, showing a decline of 2 percent or 296.8 million manat ($174.5 million) compared to January 2020, Trend reports with reference to the statistical report of the Central Bank of Azerbaijan (CBA).
According to the report, the net external assets of commercial banks are estimated at 4.19 billion manat ($2.46 billion), which in turn is less than the January 2020 indicator by 19.3 percent or 1 billion manat ($588.8 million). The banks' net external assets were formed by deducting total external assets in the amount of 5.67 billion manat ($3.35 billion) and external liabilities in the amount of 1.23 billion manat ($723.5 million).
Deposit operations in commercial banks are estimated at 17.7 billion manat ($10.4 billion), which shows a decline in annual terms of 7.7 percent. Of these, 9.15 billion manat ($5.38 billion) fell on deposits in national currency and 8.62 billion manat ($5.07 billion) in foreign currency.
S&P Global Ratings predicted the share of commercial banks in Azerbaijan in GDP for 2020 at 22.4 percent. The agency expects that this indicator will gradually decline in 2021-2022 and will be 20.5 percent and 19.6 percent, respectively, and in 2023 it will be at 19.6 percent.
(1 USD = 1.7 AZN on March 3)
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