Azerbaijan’s Bank Respublika increases assets
Baku, Azerbaijan, August 1
By Eldar Janashvili - Trend:
Azerbaijan’s Bank Respublika increased the volume of total assets by 41.5 percent at the end of the second quarter of 2019, when compared to the same period last year, Trend reports referring to the bank’s financial report.
According to the report, total assets amounted to 1.22 billion manats at the end of June, which is 357 million manats more than last year.
In the structure of assets, almost half of the total assets is comprised of correspondent accounts, which increased by 38 percent and amounted to 597.78 million manats. The share of the loan portfolio reached 32 percent of total assets after the deduction of target reserves, and the amount made up to 388.68 million manats (an increase of 45 percent).
The share of loans to the financial sector doubled and amounted to 71.05 million manats after the deduction of target reserves. The volume of cash and cash equivalents increased by 31 percent to 60.49 million manats. The volume of securities doubled and amounted to 26.18 million manats. Investments decreased by 9.1 percent and amounted to 5.94 million manats.
The bank’s liabilities increased during the first six months of the current year. As of July 1, 2019, total liabilities amounted to 1.15 billion manats (an increase of 41.4 percent).
In the structure of liabilities, the main share was comprised of deposits (79.4 percent), the volume of which amounted to 909.3 million manats, having increased by 48.5 percent compared to the figure from the same period of the previous year. Other liabilities doubled to 15.74 million manats. As noted in the report, the total capital increased by 44.5 percent to 70.15 million manats.