Azerbaijani bank fully settles account with central bank

Business Materials 16 November 2015 19:08 (UTC +04:00)

Baku, Azerbaijan, Nov. 16

By Anvar Mammadov - Trend:

Azerbaijani AFB Bank fully settled accounts with the Azerbaijani Central Bank, the bank's report as of the third quarter of 2015 said.

According to the report, the bank's liabilities to the CBA hit 11.97 million manat.

AFB Bank's liabilities hit 195.14 million manat as of January-September reducing by 10.16 percent compared to early 2015.

The main share in the structure of the bank's liabilities accounted for the loans of financial enterprises worth 44.6 percent of a total volume of liabilities. The deposits of the bank hit 84.96 million manat (43.54 of a total volume of obligations) reducing by 25.87 percent since early 2015.

The bank's assets hit 274.87 million manat or by 5.72 percent less than in the same period of early 2015. Some 64.21 percent in AFB Bank asset structure accounted for loans issued to the clients. Their volume reduced by 11.64 percent and hit 176.5 million manat compared to early 2015.

AFB Bank completed the third quarter of 2015 with net profit of 922,780 manat. The bank's net profit as of 2014 hit 3.93 million manat.

According to the report, the bank's authorized capital hit 70.39 million manat, aggregate capital - 79.74 million manat.

The official exchange rate is 1.0506 AZN/USD Nov. 16.

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