Azerbaijan’s AccessBank reduces assets
Baku, Azerbaijan, August 1
By Eldar Janashvili - Trend:
Azerbaijan’s AccessBank reduced the volume of total assets by 2 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 811.65 million manats at the end of June, which is 16.23 million manats less than last year.
In the structure of assets, more than half of the total assets is comprised of the loan portfolio, the volume of which decreased by 6 percent and amounted to 473.35 million manats. Nostro accounts doubled and amounted to 52.12 million manats. The amounts due from the Central Bank of Azerbaijan (CBA) decreased by 8.4 percent and amounted to 48.05 million manats.
The volume of cash and cash equivalents was reduced by almost half to 41.29 million manats. Deposits to banks and other financial institutions increased by 89.7 percent, amounting to 34.32 million manats. The volume of securities increased by more than five times and amounted to 28.03 million manats.
The bank’s liabilities decreased during the first six months of the current year. As of July 1, 2019, total liabilities amounted to 715 million manats, signifying a 7.2-percent decrease.
In the structure of liabilities, the main share was comprised of deposits (86 percent), the volume of which amounted to 615.35 million manats, having increased by 36.7 percent compared to the figure from the same period of the previous year.
Deposits of banks and financial institutions amounted to 32.7 million manats (62 percent). In addition to banks, financial institution loans decreased by more than 6.6 times and amounted to 32.13 million manats. Loro accounts decreased by 14.7 percent and amounted to 598,000 manats. As noted in the report, the total capital increased by 69.3 percent to 96.64 million manats.