Bank Of Baku

Azerbaijan posts 50.3% year-on-year growth in bank assets

Azerbaijan posts 50.3% year-on-year growth in bank assets
# 24 February 2009 16:17 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of February 1, total assets owned by Azerbaijan-based banks stood at AZN 10 083.1 million, up 50.3% on a year ago. The National Bank of Azerbaijan said there was a 1.9% decline in assets during January.
The decline in January was AZN 190.4 million given that the annual decline during 2008 was AZN 281 million.
The decline is attributed to the suspension of lending and fulfillment of foreign obligations.
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