Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan (CBA) increased in November to 212 million or 8.6 percent to 2667.2 million manat. For the one-year period, it increased by 670.9 million or 33.6%, since the beginning of the year - by 382.7 million or 18.8%.
According to the CBA, since November last year centralized loans granted at a rate of 5.00% per annum.
At the end of November, the centralized resources of the Central Bank were 54.6% of all funds raised by banks from the financial sector and 18.6% of total liabilities of the banking system.
It is noteworthy that 4 years ago, on December 1, 2008, when the global financial crisis has only just begun to be felt in the country's banking system, the share of loans to the CBA came to only 178.4 million or 2.2% of total liabilities of the banks. - 15B -
Economics
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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