CBA: Trend of concentration in banking sector weakens
The document notes that the concentration trend in the country's banking sector has weakened.
Thus, last year the market share of 3 banks (‘International Bank of Azerbaijan", "Kapitalbank" and "Pashabank"’) dropped by 2 percentage points to 63%. However, the market share of the loan portfolio of these banks rose by 4 percentage points to 52%, while the market share of the deposit portfolio dropped by 4 percentage points to 66%.
‘The CBA always keeps a close watch on concentration,’ the report said.
Finance
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The Accounting Chamber has revealed shortcomings in the Baku State University and the Azerbaijan State Academy of Physical Culture and Sport.
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In 2023, the salary costs of employees of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 9.8 million manats. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
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Azerbaijan's justified state budget expenditures totalled AZN 4,948 million in the first half of 2024.
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As of the end of June 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.1 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
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