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BAKU, Azerbaijan, April 3. The posts
unfold on social networks in current days in Azerbaijan in regards to the
“collapse of the banking system”, “freezing of financial institution deposits”, as
nicely as “suggestions to money out funds from playing cards and financial institution
accounts” are fully unfounded and don’t mirror actuality,
Pattern stories through
the press service of the Azerbaijan Banks Affiliation (ABA).
As of early March 2023, the belongings of the Azerbaijani
banking sector amounted to 45.7 billion manat ($26.8 billion),
which is eighteen.8 p.c greater than the identical interval final yr. In
addition, throughout the reporting interval, the mortgage portfolio of banks
elevated by 15.4 p.c, or by 163 million manat ($95.8 million)
in comparison with the start of the yr, reaching 19.8 billion manat
($11.6 billion).
“The quantity of the inhabitants’s deposits in banks,
which is an indicator of confidence in banks, equals 11.7 billion
manat or $6.8 billion (a rise of 18.7 p.c year-on-year and
1.5 p.c because the starting of the yr). The overall capital of
the nation’s banks additionally grew, reaching 5.7 billion manat or $3.3
billion (a rise of 13.3 p.c year-on-year and a couple of p.c
because the starting of the yr). The sector’s profitability
stays at a excessive degree, exceeding final yr’s figures much more,”
the ABA stated.
The ABA additionally famous that the curiosity earnings of the
banking sector elevated by 39.2 p.c from January via
February 2023, and non-interest funds – by 23.6 p.c. The online
revenue of the banking sector elevated by 44.6 p.c in
comparability with the identical price from January via February 2022,
reaching 155.7 million manat ($91.5 million).
Moreover, it was additionally famous that in February 2023,
the variety of cost playing cards in circulation elevated by 18.4
p.c in comparison with the identical interval final yr and reached 13.6
million. The quantity of non-cash funds throughout the nation
elevated 2.1 occasions, to 2.87 billion manat ($1.69 billion).
Contemplating the above, the Azerbaijan Banks
Affiliation calls on the general public to not imagine the groundless,
provocative data on social networks.
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