As of May 1, the total assets of the local banks were at the level of 29 billion 238.4 million manats (+ 16.1% to 1 January).
According to the report of the Central Bank of AR (CBA), in their structure, the largest share belongs to the credit portfolio - 18 billion 994.9 million manats (+ 10.6%), or 65% of total assets. On correspondent accounts there is 2 billion 725.4 million manats (+ 49%), or 9.3% of the total assets, cash amounts to 1 billion 206.8 million manats (+ 14.6%), or 4.1%, and investments are 2 billion 634.3 million manats (+ 20.5%), or 9%.
There are also other items - loans and deposits to the financial sector (1 billion 308.1 million manats (+ 28.5%), or 4.5% of total assets), and other assets - 2 billion 368.9 million manats (+ 23.2%) or 8.1%.
In the structure of liabilities by May 1 there are obligations of banks amounting to 24 billion 971 million manats (growth by 18.8%), or 85.4% of the liabilities. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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