Azerbaijani Bank Respublika’s cash reserves increase by 25%

Finance Materials 1 November 2019 10:31 (UTC +04:00)

BAKU, Azerbaijan, Nov. 1

By Eldar Janashvili – Trend:

Bank Respublika’s total assets increased by 39 percent in Azerbaijan at the end of the third quarter of 2019 compared to the end of the third quarter of 2018, Trend reports referring to the bank’s balance sheet.

According to the report, total assets increased by 380 million manat ($223 million) up to over 1.4 billion manat ($823.5 million).

About a third of all assets accounted for the net loan portfolio, the volume of which increased by 1.5 times up to over 454.8 million manat ($267.5 million). Over 18.4 million manat ($10.8 million) accounted for target reserves to cover credit risks.

The volume of cash increased by a quarter and reached over 49.1 million manat ($28.9 million). Nostro accounts, including also correspondent accounts in the Central Bank, amounted to 659,700 manat ($388,058) in the third quarter of 2019, which is 29 percent more than in the third quarter of 2018. The volume of the purchased securities amounted to 29.2 million manat ($17.1 million), which is an increase of 26.4 percent.

Fixed assets grew by 9.2 percent in the structure of long-term assets, amounting to over 40.9 million manat ($24.1 million). The bank’s investments amounted to over 5.9 million manat ($3.5 million). Other assets amounted to over 34.7 million manat ($20.4 million).

The bank’s total liabilities increased by 39.3 percent to over 246.5 million manat ($145 million).

A big part (80 percent) in the structure of liabilities accounted for deposits, the volume of which increased by 44.7 percent. The volume of deposits amounted to over 1 million manat ($588,235).

The bank’s total capital amounted to over 73.4 million manat ($43.1 million) from July through September 2019 compared to over 55.3 million manat ($32.5 million) in the same period of 2018.


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