BAKU, Azerbaijan, August 31
By Zeyni Jafarov - Trend:
The net foreign assets of the Azerbaijani commercial banks as of early August 2021 increased by 15.4 percent in annual terms up to 4.5 billion manat ($2.6 billion), Trend reports on Aug. 31 with reference to the statistics bulletin of the Central Bank of Azerbaijan (CBA).
In accordance with the report, the banks' net foreign assets were formed through deducting total foreign assets in the amount of more than 5.9 billion manat ($3.5 billion) and external liabilities in the amount of 1.08 billion manat ($635 million).
The deposit operations of commercial banks amounted to 20.4 billion manat ($12 billion) during the reporting period, which is by 20.4 percent more than in the same period of last year.
Some 10.8 billion manat ($6.3 billion) of that amount accounted for deposits in national currency, 9.7 billion ($5.7 billion) - in foreign currency in manat equivalent.
According to S&P Global Ratings forecasts, the share of commercial banks in Azerbaijan's GDP will gradually decrease from 2021 through 2022 and will amount to 20.5 percent and 19.6 percent, respectively while this figure will be at the level of 19.6 percent in 2023.
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