Finance

Finance

Azerbaijan-based banks sees decline in foreign liabilities

04 July 2013 14:37 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of June 1, 2013, total foreign liabilities of Azerbaijan-based commercial banks made AZN 3,099.0 mln, by rising AZN 676.4 mln or 27.9%.

Central Bank of Azerbaijan says foreign liabilities rose AZN 25.4 mln or 0.8% in January-May, fell AZN 9.3 mln or 0.3% in May.

As it seems, growth of banks’ foreign liabilities dropped, even fell to zero. This was observed last year too. So, this index dropped AZN 9.7 mln or 0.4% in that time. Generally, banks’ foreign liabilities soared AZN 641.3 mln or 26.3% and this growth occurred in the second half of the year. So, growth of this index in June-December made AZn 604.5 mln or 24.5%.

At the same time, as of June 1, 2013, banks’ total foreign assets stood at AZN 2,290.8 mln, up AZN 143.5 mln or 6.7% in comparison to a year earlier. In January-May, these assets surged AZN 274.7 mln or 13.6%.

Consequently, balance of commercial banks in foreign financial operations was AZN 808.2 mln, up 2.9 compared to a year ago.