BAKU, Azerbaijan, March 5
By Eldar Janashvili – Trend:
As of end of January 2020, the total assets of the Azerbaijani corporate Xalq Bank increased by 16.5 percent for the year, Trend reports on March 5 referring to the bank’s balance sheet.
According to the report, total assets increased by 344 million manat ($202 million), reaching 2.4 billion manat ($1.4 billion). At the same time, the share of assets in foreign currency increased by five percent up to 68.8 percent, amounting to 1.7 billion manat ($1 billion).
In the structure of the bank’s assets, the biggest part, 76 percent of all assets, accounted for the loans issued to the customers and financial institutions. The volume of loans increased by 29 percent, reaching 185.5 million manat ($109.1 million).
At the same time, slightly less than 70 percent of the total loan portfolio accounted for business loans. The loans issued in the field of industry and processing amounted to 501.7 million manat ($295.1 million) or about 27 percent of the total loan portfolio. About 208 million manat ($122 million) was issued for the trade sector, which is 64 percent more than in January 2019.
Some 135.1 million manat ($79.5 million) was issued for the agricultural sector, which ensured a 45-percent-increase in lending to this sector. Consumer loans accounted for 567.9 million manat ($334 million), the volume of which increased by 4.5 times per annum.
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