Baku: As of January 1 this year, the assets of the Azerbaijani banking sector amounted to AZN 53 billion. This marks an increase of 7.8%, or AZN 3.8 billion, compared to January 1 of the previous year, when the sector’s total assets stood at AZN 49 billion 178.2 million.
According to Azeri-Press News Agency, last year, AZN 27 billion 477.9 million of the banks’ assets were allocated as loans to customers. Over the past year, the loan portfolio of the sector grew by 18.5%, with the share of loans in total assets rising from 47.1% to 51.8%.
During the reporting period, the liabilities of the banking sector increased by 8.7% to AZN 46 billion 383 million. This included a 5.9% increase in the deposit portfolio, which reached AZN 37 billion 696.5 million. Furthermore, the sector’s balance sheet capital experienced a 9.2% growth, amounting to AZN 6 billion 618.4 million.