Deposits of Azerbaijani population in banks increase

Trend:

As of July 31, 2019, the assets of banks operating in Azerbaijan amounted to 30.090 billion manats, while debt stood at 25.507 billion manats, Trend reports with reference to the Financial Market Supervisory Authority of Azerbaijan (FIMSA).

The banking sector’s balance capital amounted to 4.583 billion manats.

In July, 44.3 percent of assets accounted for the loan portfolio, which grew during the month by 1.5 percent (196.2 million manats). The total loan portfolio in the sector amounted to 13,342.3 million manats. Over the month, loans in national currency, increasing by 2.5 percent (210.1 million manats), reached 8,650.7 million manats.

For the reporting period, deposits of individuals amounted to 8,471.6 million manats, while fixed-term deposits, increasing by 0.4 percent (19.9 million manats), amounted to 5,357.4 million manats. The growth was observed in deposits in national currency (2.5 percent - 58.7 million manats).

Deposits of legal entities, increasing by 3.7 percent (375.7 million manats), reached 10,573.2 million manats, as well as term deposits increased by 11.4 percent (257.6 million manats) and amounted to 2,510.8 million manats. Deposits in national currency, increasing by 6.9 percent (274 million manats) amounted to 4,246.3 million manats, and in foreign currency - 2,285.5 million manats (a 12.3 percent increase - 249.8 million manats).

During the reporting period, the banks’ operating profit increased by 13.9 percent (57.7 million manats) and reached 472.4 million manats, and net profit reached 406.2 million manats. Compared to the corresponding period of the previous year, interest income increased by 10.7 percent and interest income on loans grew by 14.2 percent.

There are 30 banks operating in Azerbaijan, including 514 branches, 12 departments and 2,582 ATMs. An increase in the number of employees in the banking sector was also observed in July and amounted to 0.8 percent (146 people). In total, 18,434 people work in this sector.

($1= 1.7 manats on Aug. 30)