Banks in Azerbaijan reduce assets 1.2% in H1
BAKU. Aug 8 (Interfax) - Consolidated assets for banks in Azerbaijan dropped 1.2% in January-June 2011 to 13.14 billion manat, the Central Bank of Azerbaijan told Interfax.
The loan portfolio fell 2.9% to 8.33 billion manat, 63.4% of total bank assets.
Correspondent accounts fell by 24.1% to 1.14 billion manat, or 8.7% of total assets, cash assets went up by 10% to 536.9 million, or 4.1% of assets, and investment grew 13.6% to 1.21 billion mantas, or 9.3%.
Loans and deposits, allocated in the financial sector, went up by 11.2% to 583.6 million manat, to make up 4.4% of assets.
Obligations were down 2.3% to 10.87 billion, 82.7% of all liabilities.
Deposits accounted for 43% of total liabilities at 5.68 billion manat, an increase of 9.3%. Loans and deposits received from the financial sector fell by 15% to 4.37 billion manat and accounted for 33.3% of liabilities.
Bank capital accounted for 17.3% of liabilities, or 2.27 billion manat, a rise of 4.6%.
Consolidated net profit fell 15.8% year-on-year in the first half of 2011 to 79.82 million manat.
Thirty-three banks posted a profit in the first half and 11 posted a loss that totaled 10.45 million manat.
The Central Bank said there were 44 banks working in Azerbaijan on July 1.
The official exchange rate on August 8 stood at 0.7866 manat/$1.