Bank Of Baku

Azerbaijan sees a steep decline in bank assets growth

Azerbaijan sees a steep decline in bank assets growth
# 20 November 2008 10:34 (UTC +04:00)
The National Bank of Azerbaijan said the growth in assets was 0.3% or AZN 27.7 million in October, a sharp decline compared to average monthly growth of AZN 321.6 million this year.
Assets grew by 612.8 million in September alone.
Loans lent to customer account for 63.59% or AZN 6 304.3 million of the assets.


Analysts say the sharp decline in the assets growth rate is linked to the fact that banks limited consumer lending in October.
The total assets growth rate was 18% in 2007.
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