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Azerbaijan says net foreign bank assets dwindle

Azerbaijan says net foreign bank assets dwindle

02 June 2009 15:52 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of May 1, Azerbaijani bank systemâ€™s net foreign assets stood at AZN 3 217.4 million, down 25.4% or AZN 1 097.6 million from a year ago.

The central bank said net foreign assets dropped by AZN 818.7 million or 20.3% in during January-April 2009.

The central bankâ€™s net foreign assets made up 4 107.6 million while this figure for commercial banks was minus AZN 795.7 million.

Here net foreign assets are understood as the balance of foreign assets and foreign liabilities.
Minus standing before the figure shows that the banksâ€™ foreign assets are exceeded by foreign liabilities.

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