Total assets of local banks since the beginning of the year increased by 8.6%.
According to the report of the Central Bank of AR, June 1, they were at 22 140 million manat.
Most of them (15 273 million or 69% of total assets) is the loan portfolio (+7.7% YTD). Correspondent accounts of banks are 1 282.9 million (+8.7%), cash amounts to 832 million manat (+ 3%), and investments – to 1 941.4 million (+18.3%).
Loans and deposits given to the financial sector account for 1 026.4 million manat, and other assets are 1 784.3 million (+6.5%).
The liabilities of the banks comprise 18 468.1 million manat (8.6%). The obligations include deposits - 9 543.6 million (+7.5%), loans and deposits of the financial sector - 7 370.3 million (+8.2%) and other liabilities - 1 554 200 000 manat (+19%).
The share of bank capital in the liabilities is 16.59% (3 671.9 million manat, increasing 8.4% over 5 months).
Forty-four banks have licenses for financial activities in Azerbaijan. - 17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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