Baku, Azerbaijan, April 16
By Azad Hasanli – Trend:
In January-March 2018, the International Bank of Azerbaijan’s (IBA) assets decreased by 3.36 percent to 8.4 billion manats compared to October-December 2017, according to the bank's financial report.
The bank’s liquid assets for the reporting period declined from 2.2 billion manats to 833.3 million manats. At the same time, IBA’s deposits placed in other banks increased by 32 percent up to 4.5 billion manats. The bank's investments in securities during the reporting period amounted to 1.1 billion manats.
The bank’s lending also decreased. At the end of March, the loans issued to customers amounted to 1.67 billion manats compared to 1.78 billion manats at the end of 2017.
IBA’s liabilities amounted to 7.3 billion manats, which is 5.8 percent less than in October-December 2017.
In the structure of liabilities, demand deposits of legal entities greatly reduced from 3.25 billion manats to almost 2.7 billion manats. Demand deposits of individuals decreased from 644.95 million manats to 560.95 million manats. Term deposits of individuals and legal entities decreased from 1.26 billion manats to 1.02 billion manats.
The bank’s authorized capital reached 1.24 billion manats, special capital - 1.05 billion manats and the total capital - 1.095 billion manats. The bank completed the first quarter with a profit of 139.9 million manats.
The International Bank of Azerbaijan was founded in 1992.