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Azerbaijan posts 16% year-on-year growth in net foreign bank assets

Azerbaijan posts 16% year-on-year growth in net foreign bank assets

04 March 2009 12:28 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of February 1, Azerbaijanâ€™s bank systemâ€™s net foreign assets stood at AZN 4 094.8 million, up 15.7% from a year ago.
The National Bank of Azerbaijanâ€™s net foreign assets made up 5 073.9 million while this figure for commercial banks was minus AZN 770.8 million and other net foreign assets were minus AZN 208.3 million.
The central banksâ€™ foreign assets exceed foreign liabilities while commercials banksâ€™ donâ€™t.
The commercial banksâ€™ foreign liabilities have started to decline, which reflects itself as a rise in the total foreign assets.

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