Assets of Turkish bank in Azerbaijan significantly down

Baku, Azerbaijan, July 11

By Kheyraddin Nasirzade - Trend:

The total assets of the subsidiary bank of Turkey's Ziraat Bankasi in Azerbaijan, as of the end of the second quarter of 2019, compared to the same period last year, decreased by 15.5 percent to 194.159 million manats, Trend reports referring to the financial report of the bank.

According to the report, in the asset structure, cash decreased by 15.3 percent to 4.437 million manats. Nostro balances decreased by 3.8 times to 16.841 million manats.

The volume of deposits opened in other financial institutions, including banks, decreased by 38 percent and reached 22.1 million manat.

Investments in securities for the year remained unchanged at 4.037 million manats.

After the banks returned the loans, the subsidiary of the Turkish bank began to issue loans to other financial institutions and during the reported period, their volume amounted to 5.331 million manats.

Moreover, the volume of customer loans after deducting target reserves increased by 33 percent and reached 117.732 million manats.

Fixed assets in the form of real estate and equipment slightly decreased and amounted to 14.804 million manats.

As the report notes, the volume of total liabilities decreased significantly by 45.7 percent to 124.727 million manats. The largest share in the liabilities was taken by customer deposits, the volume of which during the reported period decreased by 30.4 percent to 65.657 million manats, in which deposits of legal entities amounted to 12.98 million manats.

Deposits of other banks and financial institutions decreased by 9.2 percent to 51.316 million manat.

As noted in the report, the total capital for the year increased by 3.5 percent and reached 69.432 million manats. Share capital remained unchanged at 50 million manats, retained earnings equaled to 16.652 million manats.

(1 USD = 1.7 AZN on July 11)

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Follow the author on Twitter: @1nasirzade

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