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 is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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