Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan (CBA), decreased in May of this year by 12.4 million or 0.4 percent to 2,887.8 million manat. Over the period of one year the figure rose by 752.1 million or 35.2%, while since the beginning of the year it has decreased by 400.1 million or 12.2%.
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 May, the Central Bank centralized resources were 52.1% of all funds raised by banks from the financial sector and 17.6% of total liabilities of the banking system.
It is noteworthy that 5 years ago, on June 1, 2008, when the global financial crisis had only just begun to be felt in the banking system of the country, the proportion of loans CBA came to only 97.2 million or 1.4% of total liabilities of the banks. - 15B -
Economics
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