Azeri banks' assets expected to grow 20 pct in 2013
Growth in total assets of the banking sector will be at the level of 15-20 percent in Azerbaijan in 2013, according to the central bank.
"We believe that we need a moderate, healthy and stable growth -- somewhere around 15-20 percent," Director General of the Central Bank of Azerbaijan (CBA), Rashad Orujov, told Trend news agency.
Orujov said the banking sector increased by 11 percent during the first nine months of this year. "We believe that it is very healthy and strong growth," he said.
The CBA noted that the total assets of the banks operating in Azerbaijan amounted to 14.78 billion manats (over $18.82 billion) in July, increasing 12.48 percent from the beginning of the year.
There are 43 banks in Azerbaijan.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!