Bank Of Baku

Azerbaijan banks’ external debts hits historical high

Azerbaijan banks’ external debts hits historical high
# 07 November 2008 13:23 (UTC +04:00)
The figure represents a 3 times rise on the same period last year and a 2.1 times increase on early this year.
Given that the average monthly growth in foreign borrowing was AZN 114.4 million this year, the rise was AZN 402.7 million in September.
Besides, total foreign assets owned by commercial banks grew 80.8%, year-over-year, to AZN 1 458.1 million (about $1.8 billion), a historical high.
Also, net domestic assets rose 63.3% to AZN 5 157.5 million.
Total deposits taken by the banks increased 38.5% to AZN 4 016.2 million.




The banks’ external liquidity dropped sharply because of a steep increase in the external financial obligations, including external debts.





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