Assets of Azerbaijan's banking sector exceed AZN 60 billion

As of July 1, the total assets of Azerbaijan"s banking sector stood at just under 60.1 billion manats (more than $35.8 billion), marking a 7.4% increase year-on-year (YoY), Olaylar informs, citing the Central Bank of Azerbaijan (CBA).

Of this amount, nearly 29.89 billion manats (approximately $17.6 billion) were net loans issued to customers. The sector"s loan portfolio grew by 11.6% YoY, with the share of loans in total assets rising from 47.2% to 49%.

During the reporting period, the sector"s liabilities increased by 7% YoY to roughly 53.3 billion manats (approximately $31.35 billion). The deposit portfolio rose by 6.4% to more than 39.74 billion manats (approximately $23.4 billion), including nearly 17.43 billion manats (just over $10.25 billion) from individuals and 22.32 billion manats (just over $13.1 billion) from legal entities. Household deposits grew by 15.7%, while corporate deposits edged up by 0.1%.

Meanwhile, banks" obligations to the CBA fell by nearly 20% YoY, amounting to just 0.4 million manats (approximately $235,300). The sector"s equity capital expanded by 10.1%, reaching 7.65 billion manats (approximately $4.5 billion).