Azerbaijan’s Gunay Bank increases assets

Business Materials 23 July 2019 16:21 (UTC +04:00)

Baku, Azerbaijan, July 23

By Eldar Janashvili - Trend:

Azerbaijan’s Gunay Bank OJSC at the end of the second quarter of this year increased the volume of total assets by 23.4 percent compared to the same period last year, Trend reports with reference to the financial report of the bank.

At the end of June, the bank’s total assets amounted to 224 million manats, which is by 42.554 million manats more than last year.

The main share in the structure of assets accounts for the loan portfolio (67 percent), the volume of which increased by 2.6 percent, reaching 151.586 million manats. The volume of cash and cash equivalents decreased by 19.4 percent and amounted to 16.486 million manats. The balances on “nostro” and correspondent accounts in other banks, including the Central Bank of Azerbaijan (CBA), increased by almost 6.5 times during the reporting period and reached 25.215 million manats.

During the first six months of this year, the bank’s liabilities also increased. As of July 1 this year, the bank’s total liabilities increased by one third or 40.302 million manats, amounting to 161.272 million manats.

In the structure of liabilities, deposits amounted to 93.426 million manats, increasing by 7.5 percent. Loans from banks and other financial institutions amounted to 22.38 million manats, showing an increase of 4.3 times.

The bank’s own capital increased by 2.4 percent during the reporting period and reached 61.019 million manats. Capital reserves increased by 73.1 percent, reaching 1.956 million manats. The total capital increased by 3.7 percent to 62.976 million manats.

($1= 1.7 manats on July 23)