Azerbaijani Xalq Bank’s deposits in CIS countries’ banks increase
Baku, Azerbaijan, June 9
By Azad Hasanli – Trend:
Azerbaijan’s Xalq Bank increased the amount of deposits placed in the banks of the CIS countries by 13.35 times up to almost 11.57 million manats in 2016, the bank's financial statements said.
The names of the banks in which deposits have been placed were not disclosed. The total amount of Xalq Bank's deposits placed in other banks has tripled up to 124.6 million manats.
The bank also increased deposits in local banks by 5.78 times up to 76.7 million manats and in the Organization for Economic Cooperation and Development’s member states - by 34.7 percent up to 36.3 million manats over the past year.
As of 2016, Xalq Bank's assets reached 1.65 billion manats (4.4 percent growth for the year), 1.2 billion manats of which accounted for loans.
The bank's liabilities increased by 2.2 percent up to 1.4 billion manats. At the same time, the deposit portfolio of the bank decreased from 1.44 billion manats to 1.13 billion manats.
Xalq Bank’s profit reached 14.8 million manats in 2016, which is by 24.76 times more than in 2015.
The bank's equity capital is 211.65 million manats.
Xalq Bank has been operating since 2004.
(1.7022 AZN = 1 USD on June 9)