5 Nov 2013 16:22

Banks in Azerbaijan up assets 17% in Jan-Sept

BAKU. Nov 5 (Interfax) - Banks in Azerbaijan had consolidated assets of 19.4 billion manat on October 1 2013 (around $25 billion), the Central Bank of Azerbaijan reported.

Consolidated assets on January 1 2013 stood at 16.53 billion manat, so in nine months they have increased by 17.3%.

The loan portfolio reached 14.4 billion manat on October 1, up 20.4% since the start of the year. Retail deposits climbed 22% to 6.24 billion manat.

Equity grew 22.8% to 3.16 billion manat.

The Central Bank of Azerbaijan reports there are 43 licensed banks.

The official exchange rate on November 5 stood at 0.7843 manat/$1.