Azerbaijani AGBank's loan portfolio increased in late Sept. 2019

Azerbaijani AGBank's loan portfolio increased in late Sept. 2019

Baku, Azerbaijan, Oct. 20

By Eldar Janashvili – Trend:

The Azerbaijani AGBank’s total assets decreased by 9.7 percent in the end of September 2019 compared to September 2018, Trend reports referring to the bank’s balance sheet.

According to the balance sheet, total assets increased by 73.598 million manat up to 522.019 million manat. A little less than 40 percent of assets in the amount of 208.027 million manat accounted for foreign currency.

More than a half (54.6 percent) accounted for the client loan portfolio in the structure of assets, the volume of which increased by 25 percent up to 285.093 million manat. Some 119.007 million manat (42 percent) of this volume accounted for foreign currency. The target reserves deducted from the portfolio to ensure possible losses from loans amounted to 40.2 million manat, decreasing by 17.1 percent in the end of September 2019 compared to the end of September 2018.

The volume of cash increased by 10.5 percent and reached 18.822 million manat. Most of the cash (52 percent) accounted for foreign currency - 9.765 million manat. Some 3.657 million manat accounted for correspondent accounts in the central bank in the end of September 2019, which is 55.9 percent more than in the end of September 2018.

Less than 70 percent - 2.537 million manat accounted for foreign exchange. Nostro accounts in foreign currency amounted to 30.516 million manat in the end of September 2019, which more than doubled compared to the end of September 2018. Some 11.609 million manat accounted for the loans to the resident financial institutions, decreasing by 9.5 percent.

Fixed assets increased by 4.9 percent in the structure of long-term assets, amounting to 98.72 million manat. At the same time, about 92 percent of fixed assets in the amount of 90.761 million manat (a decrease of 3.5 percent) accounted for buildings. Intangible assets after deduction of amortization increased by 19.1 percent and reached 3.549 million manat. Other assets amounted to 522.019 million manat.

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Follow the author on Twitter: @eldarjanashvili

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