Assets of Azerbaijan's financial sector grew more than by 5%

12:45 - 22.07.2022

July 22, Fineko/abc.az. The assets of Azerbaijan's financial sector have grown by 5.7% this year, up to AZN 55.6 bn.

ABC.AZ reports that 74.4% of assets are concentrated in banks (1.3% more versus early 2022).

The share of non-bank credit organizations decreased by 1.4 p.p. to 22.8%, the share of insurance companies increased by 0.1 p.p. up to 22.6%, the share of investment companies remained unchanged - 0.2%.

The high share of NBCOs in assets is linked with the transfer of toxic assets of the International Bank of Azerbaijan to the non-bank credit organization Agrarkredit.