Baku, Azerbaijan, July 13
By Kheyraddin Nasirzade - Trend:
Azerbaijan’s Bank Avrasiya in the second quarter of 2019 increased total assets by 15.6 percent compared to the same period last year, Trend reports with reference to the financial report of the bank.
The bank’s total assets amounted to 195.897 million manats at the end of June, which is by 26.453 million manats more than last year, according to the report.
In the structure of assets, the volume of cash and cash equivalents for the reporting period increased by 25.6 percent, amounting to 13.592 million manats. The balances on correspondent accounts at the Central Bank of Azerbaijan, together with the balances on nostro accounts, increased significantly by 68.2 percent to 44.514 million manats.
The bank increased investments in securities by more than 50 percent, and they amounted to 45.324 million manats. At the same time, during the reporting period, a decrease in the volume of bank deposits in other banks and financial institutions was observed by 2.5 times, to 6.518 million manats.
Also for the reporting period, the bank reduced the issuance of loans. In the first six months of this year, the volume of loans issued to other financial institutions decreased by 1.7 times, to 1.203 million manats. The client loan portfolio amounted to 89.316 million manats, which is by 1.7 percent less than last year.
Target reserves to cover possible losses amounted to 13.586 million manats.
In January-June this year, the total liabilities of the bank increased by 22.1 percent, reaching 129.161 million manats. In the structure of liabilities, the bank’s debt to the financial sector increased by 65.5 percent to 77.691 million manats.
Also, the indicator on client account balances increased by 10.1 percent, reaching 27.316 million manats. At the same time, the bank significantly reduced the amount of debts on customer deposits - in the first half of the year, deposits decreased by 30.2 percent and reached 22.901 million manats.
The total capital of the bank as of June 30 this year amounted to 66.735 million manats, which is by almost 5 percent more than last year. At the same time, the authorized capital remained unchanged at 50 million manats. Capital reserves amounted to 1.443 million manats. Profit from previous years in total amounted to 15.291 million manats, which is by 26.2 percent more than last year.
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