Azerbaijan Deposit Insurance Fund significantly increases assets
Baku, Azerbaijan, June 1
By Anvar Mammadov - Trend:
The assets of the Azerbaijan Deposit Insurance Fund (ADIF) at the end of 2017 amounted to 991.45 million manats, which is 11.3 times more than at the end of 2016, according to the Fund's financial report on the last year.
The report says most of the assets of ADIF - 79.6 percent or 789.15 million manats - fell on the state promissory notes. A little more than 13 percent accounted for cash and cash equivalents, which grew by 2.7 times during the year from 47.79 million to 130.36 million manats. The calculated insurance premiums accounted for 6.7 million manats, property and equipment – for 1.57 million manats, intangible assets – for 200,680 manats. Another 63.46 million manats accounted for other long-term assets.
The Fund's liabilities decreased 6.4 times in the reporting period from 594.92 million to 85.68 million manats. Out of this amount, 72.06 million manats accounted for the liabilities to pay compensations, 10.15 million manats made up short-term parts of loans and debts, and 3.46 million manats accounted for other liabilities. The paid-out capital of ADIF at the end of 2017 amounted to 1.33 billion manats.
The Azerbaijan Deposit Insurance Fund started its activities on August 13, 2007.
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