Azerbaijan's BTB Bank finishes 1Q2019 with losses

Baku, Azerbaijan, May 3

By Kheyraddin Nasirzade - Trend:

BTB Bank OJSC of Azerbaijan completed the 1Q2019 with losses, Trend reports referring to the bank’s financial report.

In the 1Q2019, the bank’s losses amounted to 2.7 million manats. In the 1Q2018, the net profit of the bank amounted to 298,000 manats.

At the end of the 1Q2019, the total assets of the bank slightly increased by 0.28 percent compared to the same period of 2018 and reached 291.1 million manats. In the assets, cash amounted to 13.03 million manats. Correspondent account balances decreased 5.7 times to 5.3 million manats. The volume of bank deposits in other banks and financial institutions amounted to 8.7 million manats, which is almost three times more than last year. Investments in securities almost halved, reaching 3.3 million manats. Loans to other financial institutions increased by almost 40 percent to 18.4 million manats. The client loan portfolio also increased by 11.6 percent to 171.3 million manats. The fixed assets of the bank, along with intangible assets, amounted to 67.2 million manats. Other assets of the bank increased by 18.4 percent to 3.5 million manats.

The total liabilities of the bank increased by 1.12 percent to 238.2 million manats. In the structure of liabilities, the volume of customer demand deposits decreased by 7.1 percent to 25.2 million manats, while the volume of client term deposits increased by 24.8 percent to 82.5 million manats. Requirements of the Central Bank of Azerbaijan (CBA) decreased by 3.8 times, and reached 7.3 million manats. The volume of deposits of other financial institutions decreased by 30 percent to 9.8 million manats. The volume of loans taken from other financial institutions increased by 11.5 percent and reached 108.8 million manats. Other liabilities of the bank increased by 48.7 percent to 4.5 million manats.

The total capital of the bank decreased by 3.3 percent and amounted to 52.9 million manats.

Follow the author on Twitter: @1nasirzade

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