The total capital of domestic banks increased by 35 %
Total assets of Azerbaijani banks widened in February this year to 272.1 million or 1.3% to 20,818.5 million manat. From the beginning, the bank's assets grew by 25%.
According to the Azerbaijani Central Bank, credit investments on March 1, 2014 amounted to 15153.7 million manat, increasing the reporting month by 0.8%. Over the last year the economy grew lending by 27.7 %.
Deposits in banks in February rose by 140.3 million or 2.2 %, to 6,591.7 million manat. This figure from the beginning of the year grew by 22%.
The total capital of the banking sector increased in the reporting month to 114.8 million or 3.3% amounting to 3575.6 million manat. During the year the figure rose to 928.7 million or 35%. In many ways, this growth has contributed to the CBA decision about a fivefold increase in the requirements to the minimum level of total capital of banks. The decision was due to come into force on 1 January this year, but then for reasons of financial stability oversight body has delayed its performance for the year. -15B -
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- Politics
- 29 April 2014 13:36
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- Markets Review
- 29 April 2014 14:09
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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