BAKU, Azerbaijan, Jan. 22
By Eldar Janashvili - Trend:
Total assets of the International Bank of Azerbaijan (IBA) increased by 16.3 percent in 2019, Trend reports Jan. 22 with reference to the bank’s balance sheet.
The bank’s total assets increased by 1.2 billion manat ($758.8 million), reaching 9.2 billion manat ($5.4 billion), according to the report.
The biggest part (about 35 percent) in the structure of assets accounts for deposits in banks and other financial institutions, the volume of which fell by 5.6 percent, dropping to 3.2 billion manat ($1.8 billion).
The IBA loan portfolio (including loans to banks and other financial institutions) grew by 23.6 percent year-on-year to 2.3 billion manat ($1.3 billion). In the structure of the loan portfolio, more than half of the total volume of the issued loans accounts for business loans in the amount of 1.2 billion manat ($735.2 million, or over 52 percent of the total volume), which increased by 22 percent year-on-year.
Real estate loans amounted to 615 million manat ($361.7 million, or an increase of 6.9 percent), or 26 percent of the total loan portfolio. Consumer loans accounted for 21.4 percent of the total volume of the issued loans, slightly exceeding 500 million manat ($294.1 million, while in 2018 their volume amounted to almost 322 million manat ($189.4 million, or an increase of 58 percent). Interest on loans amounted to 1.9 billion manat ($1.1 billion), which is 18.7 percent more than in 2018.
The volume of cash increased by 91 percent, reaching 2.7 billion manat ($1.6 billion). Investments in securities amounted to about 870 million manat ($511.7 million), which is 27 percent less than in 2018.
In the structure of long-term assets, real estate and equipment fell in price by 3 percent to 159 million manat ($93.5 million). Intangible assets increased by 8.8 percent, amounting to 15 million manat ($8.8 million). Other assets amounted to almost 170 million manat ($100 million).
($1= 1.7 manat on Jan. 22)