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Azerbaijan-based banks see decline in external borrowing

02 December 2016 12:55 (UTC +04:00)

Baku – APA-Economics. As of November 1, 2016, total foreign liabilities of Azerbaijan-based commercial banks stood at AZN 6,229,000,000, up AZN 85.8 million or 1.4% from previous year.

Central Bank of Azerbaijan said the external borrowing decreased AZN 129 million or 2.03% in October 2016.

At the same time, compared to December 2015, banks’ total foreign liabilities decreased AZN 1,975.5 million or 24.08% in October 2016.

At the same time, as of November 1, 2016, banks’ total foreign assets stood at AZN 3,649,700,000, down AZN 1,066,400,000 or 22.61% in comparison to a year earlier. Compared to previous months, total foreign assets decreased AZN 221.2 million or 5.71% in October.