Borrowed funds of Turkey’s Akbank decrease 20% since early 2019
Baku, Azerbaijan, Sept. 3
By Eldar Janashvili - Trend:
The volume of liabilities of Akbank, one of the biggest banks in Turkey, totaled 326.485 billion liras in the first half of this year, which is by 5 percent more than at the end of 2018, Trend reports citing the bank’s financial report.
The volume of liabilities in national currency has decreased since the beginning of the year by 0.5 percent and amounted to 111.289 billion liras, the share declined by almost 2 percent, to 34 percent of total volume of the liabilities.
The volume of liabilities in foreign currency grew by 8.1 percent. The volume of deposits increased by 10 percent and amounted to the equivalent of 229.5 billion liras, and its share in the total amount of liabilities stood at about 70 percent. At the same time, foreign currency accounted for about 65 percent of the total deposits – the equivalent of 148.139 billion liras (an increase of 16.4 percent).
The volume of borrowed funds of the bank decreased by 20.7 percent and amounted to 36.2 billion liras. The main share of the volume (99 percent) accounted for the local currency - 35.833 billion liras (a decrease of 16.4 percent from the beginning of the year). Issued securities of Akbank grew by 36 percent and amounted to 17.772 billion liras. At the same time, their volume in national currency has almost doubled to 9.359 billion liras, and the share increased by almost 15 percent.
The bank’s derivative financial liabilities amounted to 11.411 billion liras, having decreased by 11 percent. The bulk of the volume (85 percent) accounted for the local currency - 9.687 billion liras.
Akbank’s capital grew by 12.7 percent, to 49.341 billion liras. The total amount of capital and liabilities stood at 375.827 billion liras (an increase of 6 percent since the beginning of the year), most of which (57 percent) accounted for foreign currency, equivalent to 213.567 billion liras (an increase of 7.8 percent).
($1= 5.7830 TRY on Sept. 3)