BAKU/25.12.13/TURAN : Within 11 months of this year Azerbaijan banks' assets grew by 22%, loans by a quarter. This is stated in the statement of the bank on the main directions of monetary policy and financial stability in 2014 .
During the reporting period, the volume of credit directed to the regions increased by 31% in the private sector - 25%. The share of long-term loans in the total portfolio of banks has reached 79 %, while consumer loans during the same period increased by 37 %.
Household deposits in January - November of this year increased by 25.5% to 6.4 billion manat, of which 70% are insured . The total number of depositors in the country currently stands at 3 million people . By the beginning of December 2013 on the Soviet deposits there was paid 600 million manats.
The total capital of the banking sector over the last 16 months increased by 57% or 1.2 billion manat. Since the adoption of the Central Bank decision to increase the minimum level used capital to 50 million manat , the number of banks with capital exceeding 100 million manat increased from three to 8 , and the capital of the banks having 95% of the assets and deposits of the population exceeds 50 million manat . Despite the fact that the new regulations for the remaining 5 percent had already come into force January 1, 2014 , the supervisory authority for reasons of maintaining the financial stability of the bank gave it a reprieve of one year. -15D -
Economics
-
Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
-
Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
-
Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
-
Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
Leave a review