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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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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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