Baku, Azerbaijan, Sept. 6
By Azad Hasanli – Trend:
In 2Q2018, Azerbaijan's Unibank has tripled its net profit compared to 1Q2018, and has brought it to 14.6 million manats, as appears from the bank's financial report.
The bank's revenues have amounted to 30.6 million manats, including the interest yields which amounted to 21.37 million manats. The bank’s expenses have amounted to 38.6 million manats, of which 10.28 million manats have fallen to the share of the interest expenses. During the reporting period, the Unibank's deductions for reserve funds have amounted to 22.65 million manats.
During 2Q2018, the bank has increased its assets by 6.9 percent to 621.25 million manats. The increase has occurred also due to the growth of the loan portfolio by 11.86 percent, to 331.65 million manats.
The volume of cash funds at the disposal of the Bank has increased from 29.65 million to 33.99 million manats. Unibank has also increased the investments in securities by 2.3 times, to 18.9 million manats. The bank reduced its liabilities to the Central Bank by almost a third, to 62.5 million manats, but the liabilities of other banks to Unibank have increased by 16.3 percent, reaching 61.4 million manats.
During 2Q2018, the Bank's liabilities have increased by 5.8 percent to 543.06 million manats. In the structure of liabilities, 358.69 million manats have fallen on deposits and holdings (growth by 8.2 percent over the quarter). The funds raised from financial institutions have reached 178.1 million manats. The Unibank's off-balance sheet liabilities have decreased by almost 25 percent to 63.35 million manats.
The authorized capital of Unibank amounts to almost 125.7 million manats, and its overall capital amounts to 79.78 million manats.
Unibank boosts lending to the regions
The bank issues most of the loans in Baku - the capital accounts for 71 percent (about 235.47 million manats) of all loans of the bank. However, this figure has fallen by two percentage points over the quarter. The share of regions, on the contrary, has slightly increased. For example, the volume of lending to Ganja, Mingachevir, Sheki and Shamkir has increased by one percentage point to 12 percent (from 32.6 million to 39.8 million manats).
The share of Absheron, Sumgait and Astara in the loan portfolio has also increased by one percentage point, reaching six percent (from 14.8 million to 19.9 million manats). The share of Imishli, Barda and Agjabedi has remained at the level of two percent (6.6 million manats). The remaining regions of the country account for eight percent.
However, due to the overall increase in the loan portfolio in nominal terms, the volume of lending to Imishli, Barda and Agjabedi has increased from 5.9 million to 6.6 million manats, while the volume of lending to the remaining regions has increased from 23.7 million to 26.5 million manats.
Most of the loan portfolio consists of loans to individuals - 64 percent or about 212.26 million manats (63 percent or 186.78 million manats in the first quarter).
These are followed by trade and services - 22 percent or 72.96 million manats (21 percent or 62.26 million manats in the first quarter), agriculture - 6 percent or 19.9 million manats (6 percent, 17.79 million manats in the first quarter), industry - 5 percent or 16.58 million manats (5 percent, 14.8 million manats in the first quarter) and construction - 3 percent or 9.9 million manats (5 percent or 14.8 million manats in the first quarter).
Unibank created through the merger of two leading commercial banks, "MBANK" (1992) and "PROMTEXBANK" (1994), in 2002, is one of the largest financial organizations in the country.
The list of shareholders of the bank includes such a large global financial institution as the European Bank for Development and Reconstruction and the German Investment and Development Corporation (DEG).
According to the data as of the end of March 2018, the authorized capital of the bank amounted to almost 125.7 million manats.
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