Azerbaijan's bank assets rise to 56.1B manats

As of October 1, the total assets of Azerbaijan's banking sector reached 56.138 billion manats, a 10.4% increase compared to the same date last year, Report informs, citing the Central Bank of Azerbaijan (CBA).

Net loans issued to customers amounted to 27.55 billion manats, up 9.5% year-on-year. The share of loans in total assets slightly declined from 49.5% to 49.1%.

During the reporting period, the sector's liabilities rose by 12.2%, reaching 48.97 billion manats. The deposit portfolio grew by 1.5%, totaling 36.59 billion manats, including 15.38 billion manats in individual deposits and 21.21 billion manats in corporate deposits. Over the past year, household deposits increased by 11%, while corporate funds fell by 4.5%.

Banks' obligations to the CBA dropped 89.6 times to just 0.5 million manats. Meanwhile, the sector's equity capital grew by 14%, reaching 7.17 billion manats.

For reference, 1 Azerbaijani manat ≈ $0.59 as of October 28.