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
-
Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
-
The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
-
Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
-
In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
Leave a review