Baku: The total assets of the banking sector in Azerbaijan have reached an impressive AZN 49,697.8 million, marking a 1.1% increase from the beginning of this year. This growth was observed over the period from January to October, as reported by APA-Economics, citing the Central Bank of Azerbaijan.

According to Azeri-Press News Agency, the sector’s total liabilities during this time frame amounted to AZN 43,254.6 million, with equity capital reported at AZN 6,443.2 million. This period also saw a continued expansion in the loan portfolio in October, with banks experiencing a 1.4% increase, equivalent to AZN 374.6 million, bringing the total loan portfolio to AZN 27,080.5 million.

The composition of the loan portfolio reveals that business loans account for 54% of the total, amounting to AZN 14,628.1 million. Consumer loans make up 30.6%, totaling AZN 8,277.8 million, while mortgage loans constitute 15.4% of the portfolio.