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Azerbaijan posts 14% decline in bank assets

Azerbaijan posts 14% decline in bank assets

28 April 2009 15:05 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. As of April 1, Azerbaijan-based commercial banksâ€™ assets reached AZN 8 814.96 million, up 14.20 or AZN 1 458.5 million from three months ago, said Central Bank of Azerbaijan.

According to statistics, bank assets dwindled by 7.01% or AZN 664.13 million during March alone after loan lending shrank.

Loans to customers accounted for 66.17% of the total bank assets, leaving 4.97% to loans to the financial sector.

Capital accounted for 20.27% of total liabilities during the first quarter and bank capital grew by 1.01% over the past year.

Deposits contracted by 20.62% to AZN 3 218.78 million, dropping to 36.52% from 39.47% of liabilities. At the same time, deposits received from the financial sector decreased by 10.32% to AZN 2 928.50 million.

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