Assets of Azerbaijani banks decreased by 1.1 billion manat

Assets of Azerbaijani banks decreased by 1.1 billion manat

According to the Azerbaijani Central Bank report, the country’s banking system as of February 1 this year compared with the beginning of the financial year had lower total assets by 1 billion 129.4 million manats or 3,24%.

As of February 1, 2016, compared to the beginning of the year, the loan amount portfolio of the banks was also lower by 2.7%.

According to the agency, from the beginning of the year, Azerbaijani banks have lost about 700 million manat money.

Since the global fall of the oil prices about 17 banks were closed in Azerbaijan and 8 banks were closed only this year 

International rating agencies Fitch Ratings and Standart & Poor`s have downgraded Azerbaijan’s long-term rating in foreign and national currencies from the level of “BBB” to the “dungy” level “BB+”.

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