Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan ( CBA) , expanded in July of this year to 42.8 million or 1.4 percent to 3,044 million manat. Over the period of one year the figure rose to 764 million manat or 33.5 % , since the beginning of the year decreased by 243.9 million or 8%.
According to the CBA , since February of this year, the centralized credits are issued at the rate of 4.75% per annum.
As of the end of July, centralized resources of the Central Bank amounted to 49.9 % of all funds raised by banks from the financial sector and 19.4 % of total liabilities of the banking system.
It is noteworthy that 5 years ago, on August 1, 2008 , when the global financial crisis has only just begun to be felt in the banking system of the country , the proportion of loans CBA came to only 114.6 million or 1.5% of total liabilities of the banks. - 15B -
Economics
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