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Azerbaijan posts 53% growth in bank assets

Azerbaijan posts 53% growth in bank assets

13 March 2009 13:30 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. As of January 1, total assets owned by Azerbaijan-based banks stood at AZN 10 274 million, up 52.8% on a year ago, said a government report.
According to the report, total equity capital grew by 47.9% to AZN 1.492 billion and loans to the real sector rose by 53.5% to AZN 6.988 billion. Overdue loans accounted for 2.2% of loans lent in 2008.
The amount of deposits taken from the population increased by 29.6% to AZN 1.904 million with term deposits rising by 27% to AZN 1.437 million.
The banksâ€™ external debt reached AZN 2.074 billion, up 78.2% from 2007. Liquid assets grew by 66.4% to AZN 2.230 million.

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