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Azerbaijan-based banks see rise in external borrowing

11 January 2017 09:25 (UTC +04:00)

As of December 1, 2016, total foreign liabilities of Azerbaijan-based commercial banks stood at AZN 7,039,100,000, up AZN 972 million or 16.02% from previous year.

Central Bank of Azerbaijan said the external borrowing increased AZN 810.1 million or 13% in November 2016.

At the same time, compared to December 2015, banks’ total foreign liabilities decreased AZN 1,165.4 million or 14.2% in November 2016.

As of December 1, 2016, banks’ total foreign assets stood at AZN 3,668,400,000, down AZN 1,883,700,000 or 35.2% in comparison to a year earlier. Compared to previous months, total foreign assets declined AZN 181.3 million or 4.97% in November.