Over 70% of Azerbaijan AtaBank's liabilities account for deposits

Finance Materials 19 October 2019 09:47 (UTC +04:00)

Baku, Azerbaijan, Oct. 19

By Eldar Janashvili - Trend:

Based on the results of the third quarter of 2019, AtaBank increased its total liabilities by 6.2 percent in comparison with the beginning of the year, Trend reports, referring to the balance sheet of the bank.

According to the report, total liabilities increased by 49.142 million manat (approx. $28.9 million), to 389.438 million manat ($229 million). Foreign exchange reserves account for 35 percent or 136.541 million manat ($80 million).

The largest share (73 percent) in the structure of liabilities is held by deposits, which decreased by 6.8 percent. The volume of deposits stood at 286.268 million manat ($168.3 million), 133.7 million manat ($78.6 million) - 46 percent of which is presented in foreign currency. In the structure of bank deposits, time deposits of physical persons, some of which (45.6) are also presented in foreign currency, amounted to 253.539 million manat ($149 million), or 88.6 percent of the relative importance. Deposits of financial institutions, comprising banks amounted to 2.375 million manat ($1.39 million), increasing by 3.8 times during the year. Most of them, up to 79 percent, are represented by deposits in resident banks.

Loro accounts represented completely in foreign currency amounted to 635.8 million manat ($374 million), which is 2.4 times higher than at the end of 2005.

The report said the share capital has not changed since the beginning of the year and amounted to 120.02 million manat ($70.5 million). Retained earnings amounted to 7.73 million manat ($4.5 million), an increase of 7.7 percent.

Cumulative capital of the bank for reporting period increased by 1.3 percent, reaching 142.636 million manat ($83.9 million).