Centralized resources account for more than half of all funds raised by banks from the financial sector
Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan (CBA) increased in September to 147.2 million or 6.5 percent to 2415.3 million manat. For the one-year period, it increased by 423.9 million or 21.2%, since the beginning of the year - by 382.7 million or 18.8%.
According to the CBA, since last June centralized credits have been issued at the rate of 5.25% per annum.
At the end of September, the Central Bank centralized resources were 50.7% of all funds raised by banks from the financial sector, and 17.7% of total liabilities of the banking system.
It is noteworthy that 4 years ago on September 1, 2008, when the global financial crisis had only just begun to be felt in the country's banking system, the share of CBA loans came to only 118.6 million or 1.4% of total liabilities of the banks. - 15V -
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