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Azerbaijan says net foreign bank assets drop

Azerbaijan says net foreign bank assets drop

11 September 2009 15:49 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of August 1, Azerbaijani commercial banksâ€™ net foreign assets stood at minus AZN 482.4 million, as compared to minus AZN 827.3 million on July 1.

The central bank said net foreign assets made AZN 825.3 million on August 1, 2008 and minus AZN 1 076.6 million on January 1, 2009.

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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