The CBA report on the total assets of local banks has been published. As of March 1, they make up 28 billion 632,500,000 manat (+ 13.7% YTD). Of these, the largest share (19 billion 169,900,000 manat or 67%) of the portfolio included loans granted to customers.
Correspondent accounts had 2 billion 16.3 million manat or 7% of total assets, investment was 2 billion 594,100,000 manat (9.1%), and cash - 1 billion 331,700,000 manat (4.7%).
Loans and deposits of the financial sector made up 1 billion 298 million manat (4.5% of total assets), and other assets were 2 billion 222,500,000 manat (7.8%).
Liabilities made up 24 billion 521,600,000 manat (85.64% of the total). Of these, deposits totaled 12 billion 470,200,000 manat, loans and deposits of the financial sector - 10 billion 385,900,000 manat, and other liabilities - 1 billion 665,500,000 manat. The share of bank capital is 14.36%, or 4 billion 110,900,000 manat.
By March 1 of this year 45 banks had licenses to operate. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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