BAKU, Azerbaijan, December 26. As of November 30, 2023, Azerbaijan's banks' total assets exceeded 46 billion manat ($27 billion), their total liabilities were 40.16 billion manat ($23.6 billion), and their total capital was six billion manat ($3.5 billion), Trend reports referring to the Central Bank of Azerbaijan (CBA).
The CBA's data showed that the assets, liabilities, and capital of the banking sector increased by 1.5 percent, 0.48 percent, and 8.92 percent year-on-year.
In general, the loan portfolio of Azerbaijani banks increased by 17.04 percent, or 3.17 billion manat ($1.8 billion), and reached 22.8 billion manat ($13.4 billion) compared to the indicator as of November 30, 2022.
The net profit of Azerbaijani banks from January through November 2023 amounted to 997.4 million manat, or $586.7 million (a year-on-year increase of 16.06 percent), and the operating profit was 1.5 billion manat, or $880 million (an increase of 22.75 percent).
During the reporting period, interest income of the banks stood at 3.17 billion manat or $1.8 billion (an increase of 28.64 percent), including 2.3 billion manat or $1.3 billion on issued loans (an increase of 17.22 percent), and non-interest income of the banks equaled 1.2 billion manat or $710 million (an increase of 12.9 percent).
Meanwhile, the interest expenses of the banks amounted to 755.7 million manat, or $444.5 million (an increase of 27.48 percent), and 2.07 billion manat ($1.2 billion) were non-interest expenses (an increase of 23.92 percent).
