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Total assets of banking sector increases by 10% in Azerbaijan

Total assets of banking sector increases by 10% in Azerbaijan

14 November 2011 08:51 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of October 1, 2011, total assets of Azerbaijani banking sector reached AZN 567.6 mln, it was stated in the â€œFinancial Stability Reviewâ€, prepared by the CBA on January-September.

According to review, in comparison with the last year, bank assets rose AZN 1,217.1 mln or 9.9%. Loan portfolio increased by 7.7% year-on-year and made AZN 9,426.6 mln.

Deposit base of banks increased by 14.6% during January-September. Moreover, deposits of individuals soared 19.6% to AZN 3,622.4 mln. The volume of bankâ€™s total capital rose 9.4% to AZN 2,052 mln, up 8.2% compared to last year.

Reduction process of concentration level in banking system continued during 9 months of current year. Share of big banks in assets on system dropped from 60.7% to 58%.

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