The Central Bank issued a banking statistics as of January 1, 2016, according to which increased the total assets of the banking sector and the volume of deposits and loans. Experts estimate that as another manifestation of the devaluation of the manat from December 21 last year.
In December, the bank's assets grew by 22.2% and amounted to 34.9 billion manats by January 1. The assets include loans granted (21,152 million AZN), which increased over the month by 16.3%.
Household deposits in banks as of January 1were 9 billion 473.9 million manats, 33.6% more than in the beginning of December.
The economist Samir Aliyev told Turan the level of dollarization of the banking sector is too high, and therefore, given the decline in lending to the economy and the outflow of bank deposits of the population, the statistical growth of bank performance is misleading and does not reflect the reality of the situation. ------08B
Economics
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