Total assets of Azerbaijani banks increased in February this year at 302.9 million or 1.7% to 17,854.5 million manat. From the beginning of 2013, bank assets grew by 1.2% and for the year to 3,518.8 million or 25%.
According to the Central Bank of Azerbaijan, credit investments as of March 1 totaled AZN 12,126.1 million, a decrease in the reporting month by 1.6%. Over the past year, lending to the economy has grown by 22%.
Deposits in banks in February increased 66.1 million or 1.3%, to 5236 million manat. This figure since the beginning of the year increased by 2.4%, and for 12 months - 20.9%.
The total capital of the banking sector has increased in the reporting month by 47.1 million or 1.8% amounting to 2646.9 million manat. During the year the figure rose to 560.1 million or 26.8%. - 15B -
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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