Finance

Home page

Finance

Azerbaijan sees bank assets contracted by 11%

01 July 2009 13:03 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of June 1, Azerbaijan-based commercial banksâ€™ assets reached AZN 9 129.77 million, down 11.1 from early this year, said Central Bank of Azerbaijan.

According to statistics, loans to customers accounted for 65.32%, investment 7.56%, correspondent accounts 6.88%, cash funds 4.25%, deposits and loans to the financial sector 5.46%, and other assets 10.52% of the total bank assets.

From early this year to June 1, loans to customers declined 12.5%, investment by 13.3%, correspondent accounts by 34.5% while cash funds rose by 15.7%, loans and deposits to the financial sector by 20.2% and other assets by 16.3%.

Bank obligations accounted for 79.77% of liabilities.

Deposits made up AZN 3 387.24 million of the obligations, leaving AZN 3 061.65 million to loans and deposits from he financial sector and AZN 834.15 million to other obligations.

The banksâ€™ total capital grew by 8.3% to AZN 1 846.73 million.