BAKU, Azerbaijan, April 21
By Eldar Janashvili - Trend:
As of the end of 1Q2020, Azerbaijan’s Bank BTB increased its total assets by 25.2 percent compared to the first quarter of 2019, Trend reports on April 21 referring to the bank’s balance sheet.
In accordance with the report, total assets increased by 73.3 million manat ($43.1 million) for the year up to 364.35 million manat ($214.3 million).
The biggest share (69 percent) in the structure of assets accounts for the loan portfolio in the amount of 252.3 million manat ($148.4 million) increasing by one third in 1Q2020 compared to the first quarter of 2019.
In the structure of the loan portfolio, 28 percent of Bank BTB accounted for consumer loans worth 69.5 million manat ($40.9 million).
About 30 percent account for business loans in the amount of 75 million manat ($44 million).
The main part - 43 percent accounted for mortgage loans in the amount of 107.6 million manat ($63.3 million). The deduction of target reserves from the portfolio to ensure possible losses amounted to 32.6 million manat ($19.2 million), an increase of 79 percent compared to late March 2019.
The volume of deposits issued to other banks and financial institutions almost tripled, amounting to 25.5 million manat ($15 million).
During the reporting period, the bank issued the loans to the banks and other financial institutions in the amount of 26.4 million manat ($15.5 million), which is an annual increase of 43.5 percent and together with the loans to the customers makes 76.5 percent of total assets. At the same time, investments in securities decreased by a quarter up to 2.5 million manat ($1.5 million).
A little more than two percent of the total assets accounts for cash and cash equivalents. The volume decreased by 22.5 percent up to 10.1 million manat ($5.9 million). Correspondent accounts amounted to 6.9 million manat ($4.05 million), an increase of 29.2 percent.
Intangible assets remained almost unchanged in the structure of long-term assets, amounting to 67.4 million manat ($39.6 million). Investments amounted to 1 million manat ($588,235) in the first quarter of 2020, which is 2.8 times more than in the first quarter of 2019. Other assets amounted to 4.8 million manat ($2.8 million).
(1 USD = 1.7 AZN on April 21)
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