The share of assets of the 5 largest banks in aggregate indicator of the banking system as of July 1, 2013 was equal to 55.8%, which is 3.5% less than it was at the end of last year. The share of these banks was 55.2% (at the end of 2012 - 56.7%) of all credit investments in the economy, 88.2% (90.4%) of investments in securities and capital, 66.9% (64, 5%) of deposits of legal entities, 54.1% (54.8%) of deposits of individuals and 45.1% (50.2%) of the aggregate capital.
According to the Azerbaijani Central Bank, the share of assets of the next 10 largest banks by assets in aggregate indicator was 25% (at the beginning of the year 29.3%), 16-30 banks -15.1% (7.5%), the remaining 13 banks -4.1% (3.9%).
Total assets of banks in Azerbaijan rose in January-June of this year by 10% to 18,186.26 million ($ 23.2 billion). - 15B -
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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