BAKU, Azerbaijan, April 23
By Eldar Janashvili - Trend:
As of the end of the first quarter of 2020, the total liabilities of International Bank of Azerbaijan shrank by 5.1 percent compared to those as of March 1, 2019, Trend reports on April 23 referring to the bank’s balance sheet.
In accordance with the report, total liabilities decreased by 404.9 million manat ($238.2 million) up to 7.5 billion manat ($4.4 billion).
A great share in the structure of liabilities (71.5 percent) accounts for the deposits, which increased by 22.5 percent and amounted to 5.3 billion manat ($3.1 billion).
At the same time, deposits of legal entities accounted for more than 78.5 percent, which decreased by 5.6 percent up to 4.2 billion manat ($2.5 billion).
The deposits of individuals accounted for less than 21.5 percent - 1.1 billion manat ($647 million) in the first quarter of 2020 while a decrease compared to the first quarter of 2019 amounted to 3.3 percent.
The liabilities to the credit organizations and other financial institutions for the year decreased by 8.7 percent and amounted to 304.1 million manat ($178.9 million). The deferred tax liabilities amounted to 8.1 million manat ($4.8 million) remaining unchanged year on year.
The current tax liabilities amounted to 4.1 million manat ($2.4 million) in the first quarter of 2020, which is 17.7 percent less than in the first quarter of 2019. Other liabilities amounted to 114.4 million manat that’s $67.3 million (a 15-percent decrease).
In accordance with the report, the bank’s share capital on an annualized basis remained unchanged and amounted to 1.2 billion manat ($705.9 million). The retained earnings amounted to 511.2 million manat ($300.7 million), increasing by hundreds of times for the year.
The capital reserves amounted to 126.5 million manat that’s $74.4 million (a 10 percent decrease).
The total capital amounted to 1.4 billion manat ($823 million), an increase of 4.7 percent.
(1 USD = 1.7 AZN on April 23)
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