BAKU, Azerbaijan, Feb. 14
By Eldar Janashvili – Trend:
Total assets of the Azerbaijan Mortgage and Credit Guarantee Fund increased by 10.1 percent for the year, as of 2019, Trend reports referring to the fund’s balance sheet.
In accordance with the report, total assets increased by 129.6 million manat ($76.2 million), reaching 1.4 billion manat ($823.5 million).
The biggest part, about 70.2 percent, in the structure of assets accounts for mortgage loans, the volume of which grew by 11.5 percent and amounted to 895.3 million manat ($526.6 million).
Cash and cash equivalents accounted for about one tenth of all assets and their volume increased by 2.4 times, reaching 136.2 million manat ($80.1 million). Deferred investments accounted for about two percent of all assets, decreasing by 8.6 times and amounted to 30.1 million manat ($17.7 million) compared to 260.5 million manat ($153.2 million) in 2018. At the same time, the volume of deposits in the banks increased by 83.5 times, reaching 23.8 million manat ($14 million).
In the structure of long-term assets, real estate, equipment and intangible assets grew 2.2 times, amounting to 16.7 million manat ($9.8 million). Other assets amounted to over 201.2 million manat ($118.3 million).
As of 2019, the Azerbaijan Mortgage and Credit Guarantee Fund increased total liabilities by 1.4 percent or by 10.3 million manat (over $6 million) up to 754 million manat ($443.5 million) compared to 2018. Other liabilities amounted to 25.4 million manat ($118.3 million).
In accordance with the report, budget deductions in relation to the previous year increased by 21.4 percent and amounted to 566 million manat ($332.9 million). The undistributed profit of the fund amounted to 67 million manat ($39.4 million), an increase of 42 percent. Net profit for the fiscal year amounted to 18.7 million manat that’s $11 million (a decrease of 3.3 percent).
The total capital of the fund as of 2019 amounted to 651 million manat ($382.9 million) which is an increase of 22.4 percent compared to 532.5 million manat ($313.2 million) in 2018.
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