Assets of Azerbaijan’s banking sector up by 20%

As of January 1, 2022, the assets of the banking sector of Azerbaijan stood at 38,462.2 million manats, up 20% from the previous year, Report informs, citing the Central Bank of Azerbaijan.

Of the banks’ assets, 15,513.3 million manats were consumer loans. Over the past year, the sector’s loan portfolio grew by 19.1%, while the share of loans in assets fell from 40.6% to 40.3%.

During the reporting period, the liabilities of the banking sector increased by 22.4% to 33,492.9 million manats, the deposit portfolio – by 30% to 26,938.3 million manats. Of this, 9,032.4 million manats are deposits of individuals and 17,905.9 million manats are deposits of legal entities. During the year, the population’s and companies’ funds in banks increased by 12.3% and 41.2%, respectively.

Over the past year, banks’ liabilities to the Central Bank of Azerbaijan decreased by 14.8% to 319.1 million manats.

The net worth of the sector went up by 5.7% to 4,969.3 million manats.