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Azerbaijan's Banking Sector Continues Growth Amid Rising Deposits
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, April 15. The banking sector
in Azerbaijan has experienced persistent expansion attributable to
ongoing economic dynamism and a notable augmentation in the term
deposit portfolio, said Aliyar Mammadyarov, the First Deputy
Governor of the Central Bank of Azerbaijan (CBA), Trend reports.
In a press conference today on financial stability, Mammadyarov shared that during 2024, the banking sector's assets saw a healthy bump of eight percent, climbing to a whopping 53 billion manat ($31.1 billion).
"Liabilities also rose by eight percent, reaching 46.4 billion manat ($27.2 billion). Consequently, the banking sector's depth metric, quantified by the assets-to-GDP ratio, experienced an uptick of two percentage points, culminating in a total of 42 percent," he added.
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