Azerbaijani population’s deposits in banks jump
The Central Bank of Azerbaijan (CBA) reported that the population's deposits in the Azerbaijani banking system increased by 24 times, while the volume of loans - by 23 times from 2003-2013.
As of January-July 2013, the banks delivered loans in the amount of 14.2 billion manat, while the volume of entity deposits in banks amounted to 6.02 billion manat.
"The assets of the sector have increased by 18 times over 10 years. The ratio of bank assets to non-oil GDP increased by 3.4 times - up to 67 percent from 2003 to 2012," the bank reported.
As of August 1, 2013, the banks' assets amounted to 18.7 billion manat.
"The Central Bank's foreign exchange reserves increased by 17 times in 2003-2013 and exceed the international standards of adequacy by three times," the bank reported.
As of late July 2013, the total amount of Azerbaijan's foreign exchange reserves reached $12.88 billion in the Central Bank.