Assets of Azerbaijani banks as of the beginning of March 2017 decreased by 1 billion 020.3 million manat or 3.2% compared to the beginning of the year, amounting to 30 billion 419.2 million manat.
The Financial Markets Supervisory Authority states that during the reporting period the liabilities of banks decreased by 6% and amounted to 27 billion 772.7 million manat.
The capital of banks grew by 38.7%, amounting to 2 billion 646.6 million manat.
The debts of commercial banks to the Central Bank are 865.5 million manat (decreased by 49%).
The net profit of banks at the beginning of March amounted to 50 million manat.
Bank deposits of the population make up 7 billion 084.3 million manat.
At the specified time, 32 banks function in Azerbaijan, which have 563 branches, 135 sub-branches and 2,462 ATMs.
16,662 people work in the banking sector. ----71D
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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