Ziraat Bank Azerbaijan increases assets

Baku, Azerbaijan, Oct. 11

By Eldar Janashvili – Trend:

The Turkish Ziraat Bank’s subsidiary in Azerbaijan increased its total assets by 5.7 percent in the end of the third quarter of 2019 compared to the same period of 2018, Trend reports referring to the bank’s balance sheet on Oct. 11.

According to the report, total assets increased by 12.35 million manat up to 227.811 million manat. A little less than half of the assets in the amount of 112.099 million manat accounted for foreign currency (when transferring to the national currency).

The main share in the structure of assets (57.3 percent) accounts for the loan portfolio, the volume of which grew by 37.4 percent up to 130.59 million manat, 54.685 million manat of which (41.9 percent) accounts for foreign currency.

The correspondent account in the Central Bank reached 32.281 million manat in the end of the third quarter of 2019, which is five times more than in the same period of 2018. A little more than three quarters accounted for foreign currency - 24.358 million manat.

Nostro accounts in foreign currency reached 12.185 million manat from January to September 2019, which is 2.5 times less than in the same period of 2018.

The deposits at financial institutions, including banks, reached 6.8 million manat, decreasing by 5.8 times year on year. Accounts receivable from operations with banks and other financial institutions amounted to 11.281 million manat, decreasing by less than one percent.

The volume of securities, also fully nominated in foreign currency, reached 9.091 million manat from January to September 2019, which is 2.25 more than in the same period of 2018.

The volume of cash decreased by 23.2 percent and reached 5.006 million manat. Most of the cash (57.2 percent) accounts for foreign currency - 2.863 million manat.

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Follow the author on Twitter: @eldarjanashvili

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