Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan ( CBA) , increased in August by 41.6 million or 1.4 percent to 3085.6 million manat. Over the period of one year the figure rose to 817.5 million or 36% , since the beginning of the year decreased by 202.3 million or 6.2%.
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 August, the Central Bank centralized resources were 49.9 % of all funds raised by banks from the financial sector, and 19.5 % of total liabilities of the banking system.
It is noteworthy that 5 years ago, on September 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. - 15V -
Economics
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