TODAY.AZ / Business

Assets of banking sector hits 30B manats

08 May 2017 [11:38] - TODAY.AZ

By Azernews


By Sara Israfilbayova

The Financial Market Supervision Body (FMSB) has revealed data on activity of Azerbaijan’s banking sector for the first quarter in 2017.

Total assets of 32 banks operating in Azerbaijan constituted almost 30 billion manats ($17.6 billion) as of April 1, total liabilities – 27.2 billion manats ($16 billion), balance capital – 2.8 billion manats ($1.7 billion).

Deposits of the population made almost 7 billion manats ($4.1billion).

During the reporting period, the number of bank branches equaled to 561, offices -137, ATMs - 2, 471. In general, the staff of the banking sector amounted to 16 312 people.

The number of non-bank credit organizations (NCO) is 145, including 97 credit unions. The staff of NCOs equaled to 2,726 people.

The year 2016 was hard for Azerbaijan’s banking sector, as the sector witnessed closure of several banks with total volume of assets exceeding several billion manats, and liabilities - 2.9 billion manats (over $1.7 billion).

Some experts in expect the number of banks in to be reduced to 20 in the near future.

URL: http://www.today.az/news/business/160914.html

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