Assets of Azerbaijan’s Expressbank increase

Business Materials 27 July 2016 20:40 (UTC +04:00)

Baku, Azerbaijan, July 27

By Anvar Mammadov – Trend:

Assets of Azerbaijan’s Expressbank increased by 0.7 percent during a year and amounted to 280.75 million manats as of June 30, 2016, said the bank’s report on its activities in H1 2016.

The bank’s assets totaled 278.79 million manats in H1 2015.

The report also said that a lion’s share (78.8 percent or 221.17 million manats) of the bank’s assets accounted for leasing and loans issued for customers. This volume decreased by 3.6 percent compared to the same period of 2015.

Expressbank’s liabilities increased by 6.2 percent and amounted to 143.46 million manats during the reporting period compared to H1 2015. A major part of liabilities (76.98 million manats) accounted for population’s deposits that totaled 53.7 percent of the bank’s total liabilities.

The bank completed the H1 2016 with a loss of 4.36 million manats, while it completed the first two quarters of 2015 with a profit of 2.86 million manats.

Interest yields and operating income of the bank decreased by 4.5 percent and amounted to 25.31 million manats in H1 2016, while the expenses decreased by 0.7 percent and totaled 16.83 million manats.

Expressbank’s aggregate capital decreased by 4.5 percent during the year and amounted to 137.29 million manats in H1 2016.

Expressbank, the first commercial bank in the country, was founded in 1989.

Besides Baku city, the bank’s branches also operate in Sumgait, Ganja, Mingachevir, Barda, Gusar, Khachmaz and Shirvan. Expressbank has installed about 90 ATMs across the country, 7,500 POS-terminals and 400 payment terminals ExpressPay.