Azerbaijan’s NBC Bank completes 1Q2019 with losses

Business Materials 2 May 2019 14:37 (UTC +04:00)

Baku, Azerbaijan, May 2

By Kheyraddin Nasirzade - Trend:

Azerbaijan’s NBC Bank OJSC completed the 1Q2019 with losses of almost 595,000 manats, Trend reports referring to the bank’s financial report.

During the reported period, the total assets of the bank increased by 1.8 percent, reaching 288.4 million manats. In the structure of assets, cash decreased by 19.5 percent to 4.8 million manats compared to the beginning of the year. The balances on nostro accounts decreased by 12.9 percent, reaching 1.2 million manats.

The bank’s loan portfolio increased by 3.9 percent and reached 212.5 million manats. In the structure of the loan portfolio, the volume of loans issued to individuals amounted to 122.8 million manats, loans issued to the trade and services sector - 64.5 million manats, banking and financial system - 16.4 million manats, production, agriculture and other areas - 16.2 million manats. Fixed assets minus depreciation, as well as intangible assets totaled about 59.1 million manats. The remaining assets of the bank amounted to 10.7 million manats, which is 11.2 percent less than at the beginning of the year.

The total liabilities of the bank during the reporting period increased by 2.5 percent to 230.9 million manats. In the structure of liabilities, the volume of the total deposit portfolio increased by 1.4 percent, reaching 225.8 million manats, of which the volume of deposits of individuals amounted to 101.2 million manats, the volume of deposits of legal entities, banks and other financial institutions amounted to 124.6 million manats.

The volume of loans taken from other banks and financial institutions decreased by 9.1 percent, reaching 746,000 manats. Other liabilities of the bank almost doubled, reaching 5.1 million manats.

The total capital of the bank over the past period decreased by 1.03 percent to 57.5 million manats.

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