Azerbaijani banks up assets 7% in 2011
BAKU. Feb 10 (Interfax) - Consolidated bank assets in Azerbaijan stood at 14.26 billion manat (0.7863 manat/$1 on February 10) on January 1, 2012, up 7.3% year-on-year, the Central Bank of Azerbaijan told Interfax.
Customer loans accounted for the largest share of bank assets at just over 9 billion manat (up 5% in 2011), or 63.2% of all assets.
Correspondent bank accounts totaled 1.34 billion manat (down 11.4%), or 9.4% of all assets, cash amounted to 695.2 million (up 42.4%), or 4.9%, and investment - 1.44 billion manat (up 34.6%), or 10.1%.
Loans and deposits for the financial sector amounted to 567.7 million manat (up 8.29%), or 4% of all assets, and other assets totaled 1.21 billion manat (up 7.7%), or 8.5%.
Bank obligations were at 11.83 billion manat (up 6.4%), or 82.98% of all liabilities.
Deposit liabilities amounted to 6.67 billion manat (up 29.2%), or 46.8% of all liabilities. Loans and deposits received from the financial sector were at 4.35 billion manat (down 15.4%), or 30.52% of liabilities, while other liabilities were at 806.3 million (down 1.1%), or 5.65%.
Azerbaijani banks posted consolidated net profit of 187.63 million manat, up 13.1% on 2010. The number of banks closing the year with a profit went down by one to 31.
There were 13 banks that posted losses totaling 46.26 million manat. The number of loss-making banks did not change but the volume of losses rose by 1.5%.
The Central Bank of Azerbaijan reported that there were 44 banks operating in the country on January 1 2012.
