Baku, Azerbaijan, April 26
By Kheyraddin Nasirzade - Trend:
The total assets of Azerbaijan’s Rabitabank in the first quarter of 2019 amounted to 717.9 million manats, which is 7.9 percent more than in the same period last year, Trend reports with reference to the Bank’s financial report.
The loan portfolio increased by 35.7 percent reaching over 334 million manats. The volume of interbank loans and deposits increased by 70.1 percent reaching 125.7 million manats.
According to the report, investments in securities increased by 26.7 percent reaching 70.9 million manats, liquid assets decreased by 35.7 percent to 188.4 million manats, and fixed assets increased by 30.47 percent to 17.5 million manats.
The total liabilities of the bank also increased by 8.04 percent to 624.7 million manats. In the structure of liabilities, balances on loro accounts increased 2.1 times reaching 104 million manats.
The funds raised from other financial institutions amounted to 86.6 million manats, which is 24.7 percent more than in the same period last year. Balances on current client accounts increased by 16.6 percent to 330.2 million manats. The deposit portfolio of the bank decreased by 14.9 percent to 185.3 million manats. Other liabilities of the bank amounted to 22.5 million manats, which is 2.8 times more than last year.
The bank’s interest income for the reporting period amounted to 9.7 million manats, while expenses stood at 2.59 million manats. Non-interest income amounted to 2.08 million manats, while expenses amounted to 1.2 million manats. Net profit without taxes amounted to 3.26 million manats, which is almost 32 times more than last year’s figure, which was 102,000 manats.
The share capital of the bank is 101.3 million manats, and the total capital is almost 106.97 million manats.
(1.7 manats = 1 USD on April 26)
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