Baku, Azerbaijan, July 26
By Eldar Janashvili - Trend:
At the end of the second quarter of this year, assets of Azerbaijan’s ASB Bank decreased by 9 percent compared to the same period last year, Trend reports with reference to financial report of the bank.
The bank’s total assets amounted to 916.16 million manats at the end of June, which is 9 million manats more than last year, according to the report.
In the structure of assets, the main share accounts for deposits in banks and other financial institutions (53 percent), the volume of which decreased by 20.4 percent, reaching 491.1 million manats.
The volume of cash and cash equivalents increased by 63.6 percent to 20.26 million manats. Correspondent accounts decreased by 39 percent and amounted to 10.05 million manats. After deducting the target reserves in the amount of 6.6 million manats, the loan portfolio for the reporting period amounted to 302.3 million manats, while in the first half of last year its volume amounted to 280,800 manats.
Also, in the first six months of this year, the liabilities of the bank increased. Total liabilities as of July 1 amounted to 818.9 million manats, remaining almost unchanged.
In the structure of liabilities, the main share accounted for customer deposits (79.6 percent), the volume of which amounted to 651.6 million manats, decreasing by 4.7 percent compared to the figure for the same period last year.
The deposits of banks and other financial institutions decreased by one third and amounted to 110.2 million manats. Credits from financial institutions amounted to 47.5 million manats, which is 7.6 percent less than last year.
The bank’s own capital for the reporting period increased by 5.1 percent, reaching 90.4 million manats. Capital reserves decreased by 26 percent, reaching 6.8 million manats. The total capital increased by 2.1 percent to 97.2 million manats.
($1= 1.7 manats on July 26)