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Azerbaijan says net foreign bank assets dwindle

Azerbaijan says net foreign bank assets dwindle

30 March 2009 13:53 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of March 1, Azerbaijani bank systemâ€™s (including the central bankâ€™s) net foreign assets stood at AZN 3 787.4 million, up 6.9% or AZN 244.5 million from a year ago.
The central bank said net foreign assets dwindled by AZN 307.4 million or 7.5% in February and dipped by AZN 248.7 million or 6.2% during January-February.
The bank systemâ€™s net foreign assets grew by AZN 1 164.4 million or 40.6% in 2008 with an average growth rate of AZN 97.03 million a month. The decline in February exceeded average monthly growth by 3.2 times.
The same time, the bank systemâ€™s net domestic assets rose by AZN 889.1 million or 33.5% over the past year while dropped by AZN 917.1 million or 20.6% in January-February and by AZN 373.4 million or 9.5% in February alone to AZN 3 541.2 million.

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