The total assets of Azerbaijani banks increased in September 485.1 million or 3.1% to 15,513.85 million ($ 19.75 billion). Since the beginning of the banking assets grew by 15% and for the year by 2,431.3 million or 18%.
According to the Central Bank of Azerbaijan, on October 1, 2012 the amount of cash in banks totaled 655.7 million manat, funds in correspondent accounts amounted to 1069 million manat, lending financial sector - 769 million manat, credit customers - 10130.4 million AZN investments - 1256.7 million manats, other assets - up to 2118.1 million manat.
The banks increased in the reporting period to 469.1 million or 3.6% to 13,658.35 mln. Of these, 7058.3 million manat provided deposits 4755.8 million manat - with financial sector and 1844.2 million manat - other liabilities.
The total capital of banks decreased over the year by 4.4 million or 0.2%, and in September rose by AZN 16 million, or 0.7 percent to 2324.6 million ($ 2.98 billion). - 15B -
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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