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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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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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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