Azerbaijan's banking system assets reduced in Q1

Overall assets of the banking system of Azerbaijan totaled AZN 27.907 bn by 31 March 2018.

As of 1 January 2018 Azerbaijani banks’ assets reached AZN 27.9 million.

The Financial Market Supervision Chamber (Fimsa) informs that banks’ loan portfolio by 31 March is AZN 11.249 bn.

Total capitalization of banks in Azerbaijan amounted to AZN 3.87 bn by 31 March 2018.

Banks’ liabilities totaled AZN 24.037 bn by 31 March 2018, including liabilities to the Central Bank for AZN 499 million.

Banks’ overall losses amounted to AZN 55.9 million for Q1 of 2018.

Over Jan-Mar of the year banks’ interest income reached AZN 428 million, including AZN 287 million on the given loans.

Non-interest income of the domestic banks for the reporting period amounted to AZN 114.5 million.

Banks’ interest expenditures for Jan-Mar 2018 amounted to AZN 151.9 million, including AZN 95.1 million on deposits, and non-interest expenses AZN 242.7 million.

Operating profit of the Azerbaijan’s banking sector amounted to AZN 147.9 million and payments on profit tax AZN 7.7 million. The banks directed AZN 197.5 million in Q1 for the formation of reserves. As a result, losses of the banking sector amounted to AZN 55.9 million for Jan-Mar 2018.

As of 31 March of the year 30 banks have license for activity in Azerbaijan, including 15 banks with foreign capital.

In general, by the end of March the banks are numbering 511 branches and 143 sub-branches.

The banking sector of Azerbaijan is numbering 16,389 people.