Significant part of deposits of Int’l Bank of Azerbaijan belongs to legal entities

Finance Materials 24 January 2020 14:58 (UTC +04:00)
Significant part of deposits of Int’l Bank of Azerbaijan belongs to legal entities

BAKU, Azerbaijan, Jan. 24

By Eldar Janashvili - Trend:

Total liabilities of the International Bank of Azerbaijan (IBA) increased by 16.4 percent last year compared to 2018, Trend reports with reference to the bank’s balance sheet.

The bank’s total liabilities increased by 1.1 billion manat ($652.9 million), to 7.8 billion manat ($4.6 billion), according to the report.

A significant part (71.5 percent) in the structure of liabilities accounted for deposits, which increased by 29.3 percent to 5.6 billion manat ($3.3 billion). At the same time, the bulk of deposits, about 79 percent, accounted for deposits of legal entities - in the amount of 4.4 billion manat ($2.6 billion). Their growth on an annual basis amounted to 38.2 percent. The volume of deposits of individuals amounted to 1.1 billion manat ($700 million), having increased by 4.3 percent.

The bank’s liabilities to credit and other financial organizations amounted to 333.2 million manat ($196 million), having decreased by 9.1 percent since the beginning of the year. The volume of debt securities amounted to 1.7 billion manat ($1 billion), remaining almost unchanged year on year.

The amount of current and deferred tax liabilities was 80.8 million manat ($47.5 million). Other liabilities amounted to 134.6 million manat ($79.1 million).

The bank’s share capital hasn’t changed since the beginning of the year and amounted to 1.2 billion manat ($720 million). Retained earnings of the bank amounted to 118,000 manat ($69,411). The bank’s total reserves amounted to 115 million manat ($67.6 million, or an increase of 28.9 percent).

The bank’s total capital last year amounted to 1.3 billion manat ($788.2 million) compared to 1.1 billion manat ($682.3 million) in 2018.

($1= 1.7 manat on Jan. 24)