Azerbaijani banks' total assets rose in September by 481.56 million or 2.5% to 19,400.46 million manat. From the beginning of 2013, the bank assets increased by 17.4 %, while for the past year - by 26.7 %.
According to the Central Bank of Azerbaijan, on October 1, 2013 the amount of cash in banks amounted to 807.1 million manat, funds in correspondent accounts amounted to 976.4 million manat , lending financial sector - 795.5 million manat, customer lending - 13546 , 2 million manats investments - 1589.7 million manats , other assets - up to 1,685.6 million manat.
Liabilities of banks increased in the reporting month by 398.59 million or 2.5% to 16,246.99 million manat. Of these, 8,570.1 million manat were secured deposits, 6,507.9 million manat - with financial sector and 1,168.9 million manat - other liabilities.
The total capital of banks increased over the year by 812.9 million or 34.7 %, and in September - by AZN 83 million or 2.7 percent to 3,153.5 million manat. - 15B -
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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