Baku, Azerbaijan, July 26
By Kheyraddin Nasirzade – Trend:
Azerbaijan’s Premium Bank (formerly Bank Silk Way) increased its assets by 8.3 percent at the end of the second quarter of 2019, Trend reports referring to the bank’s financial report.
According to the report, the bank's total assets amounted to 648.76 million manats at the end of June 2019, which exceeds last year’s figure by almost 50 million manats.
In the structure of assets, the loan portfolio comprised 86.7 percent of the share after the deduction of target reserves in the amount of 1.67 million manats. As such, the volume of client loans amounted to 562.612 million manats, which is 7.7 percent more than last year.
The assets are then followed by the balances on correspondent and nostro accounts in the CBA and other banks, which increased in volume by 53.1 percent to 52.39 million manats. Cash and cash equivalents decreased by 7.7 percent to 26.491 million manats. The volume of fixed assets in aggregate with intangible assets increased by 40 percent to 5.947 million manats (after depreciation).
According to the report, the bank’s total liabilities increased by 11.8 percent during the reporting period, amounting to 523.599 million manats. Among the liabilities, customer deposits make up the main share (90.2 percent), their volume having increased by 5.5 percent to 472.148 million manats.
Obligations to the CBA increased nine times to 22.5 million manats. Moreover, the bank increased debts in the form of deposits of other banks and financial institutions by 77.5 percent to 15.8 million manats. The volume of loans taken from other financial institutions amounted to 4.861 million manats.
As noted in the report, the bank's own capital for the reporting period decreased by 4.3 percent and reached 125.161 million manats. In particular, the volume of share capital decreased in aggregate from retained earnings by 3.7 percent to 112.606 million manats. Capital reserves also decreased by 8.9 percent to 12.555 million manats.
Premium Bank has been operating since January 25, 2008.
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