BAKU, Azerbaijan, July 12
By Zeyni Jafarov - Trend:
The value of net external assets of the Azerbaijani commercial banks as of early June 2021 increased, Trend reports on July 12 referring to the statistical report of the Central Bank of Azerbaijan (CBA).
According to the report, this indicator amounted to 4.62 billion manat ($2.72 billion), up by 5.4 percent on annual basis.
The foreign assets were formed as a result of deducting total foreign assets in the amount of slightly over six billion manat ($3.5 billion) and external liabilities worth 1.16 billion manat ($680 million).
The deposit operations of commercial banks as of early June 2021 amounted to 19.8 billion manat ($11.6 billion), which is 12.4 percent more than in the same month of last year. Some 10.95 billion manat ($6.44 billion) of that volume accounted for deposits in national currency while 8.84 billion manat ($5.2 billion) - for foreign currency.
According to S&P Global Ratings forecasts, the share of commercial banks in Azerbaijan's GDP will gradually decrease in 2021-2022, amounting to 20.5 percent and 19.6 percent, respectively while it will be at the level of 19.6 percent in 2023.
(1 USD = 1.7 AZN on July 12)
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