By Trend
Azerbaijani banks issued loans worth 12.6 billion manats in
February 2019, which is 13.3 percent more than in the same period
last year,
Trend reports with reference to the Financial Market
Supervisory Authority of Azerbaijan (FIMSA).
Since the beginning of the year, this figure hasn’t changed
much, and increased by 0.7 percent for the month.
During the reporting period, banks created reserves to cover
possible losses on loans issued totaling 1.5 billion manats.
The volume of loans issued to financial institutions (including
banks) amounted to 250.9 million manats.
In general, the total assets of banks in February amounted to
29.95 billion manats, which is 5.09 percent more than in the same
period last year and 1.5 percent more than at the beginning of the
year.
In the asset structure, almost 1.3 billion manats accounted for
cash, 1.9 billion manats for funds in correspondent accounts at the
Central Bank of Azerbaijan, 2.4 billion manats accounted for funds
in nostro accounts. The value of bank deposits in other banks and
financial institutions amounted to 6.4 billion manats, investments
in securities stood at 4.22 billion manats.
There are 30 banks in Azerbaijan, including 2 state-owned
ones.
(1.7 manats = 1 USD on April 2)
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