BAKU, Azerbaijan, April 24. Total assets of Ziraat Bank Azerbaijan increased by 36.7 percent in 1Q2022 compared to the same period last year, Trend reports citing the bank's balance sheet.
According to the bank’s report, the total assets of the bank increased by 120.8 million manat ($71 million) over the year - up to 449.3 million manat ($264.2 million). The largest share (58.89 percent) in their structure was the loan portfolio, which grew by 57.6 percent over the year to 264.6 million manat ($155.6 million). Deduction of targeted reserves from the bank's portfolio to ensure possible losses amounted to 4.8 million manat ($2.8 million).
According to results of 1Q2022, about 24.6 percent of the bank’s assets were investments in securities - 42.8 million manat ($25.1 million, an increase of 18.9 percent over the year).
Another 1.3 percent of the bank's total assets were cash and cash equivalents, which decreased by 1.3 percent over the year to 6.003 million manat ($3.5 million).
Unused real estate in the structure of the bank’s long-term assets amounted to 599,700 manat ($352,700). Other assets of the bank in 1Q2022 amounted to 5.7 million manat ($3.3 million, a decrease of 3.1 percent over the year).