BAKU, Azerbaijan, April 28
By Eldar Janashvili - Trend:
Azerbaijan’s Bank of Baku increased its total assets by 11.9 percent as of the end of the first quarter of 2020 compared to the same period of 2019, Trend reports referring to the bank’s balance sheet.
In accordance with the report, total assets grew by 4.5 million manat ($2.6 million) up to 426 million manat ($250 million) for the year. The biggest share in the structure of assets (84.3 percent) accounted for the loan portfolio in the amount of 359.2 million manat ($211.3 million), an increase of 6.2 percent.
Most of Bank of Baku’s loan portfolio (72.4 percent) accounted for business loans in the amount of 260.2 million manat ($153.05 million), which increased by 5.8 percent. About 24.4 percent accounted for consumer loans in the amount of 87.7 million manat ($51.6 million), which remained almost unchanged per annum.
About 2.5 percent of the loan portfolio accounted for mortgage loans in the amount of 8.8 million manat that’s $5.2 million (an increase of seven percent). The deduction of target reserves from the portfolio to ensure possible losses amounted to 120.2 million manat ($70.7 million), an increase of 1.6 percent compared to the end of March 2019.
Some 18.1 percent of total assets accounted for cash and cash equivalents. The volume increased by 83.1 percent from 42 million manat ($24.7 million) to 77.2 million manat ($45.4 million). Investments in securities amounted to 24.2 million manat ($14.2 million) - a third of last year's figure for the first quarter.
The deposits in the banks and other financial institutions amounted to 55.1 million manat ($32.4 million), an increase of 3.8 times. The loans to the banks and financial institutions amounted to 1.6 million manat that’s $941,176 (an increase of 88.2 percent).
In the structure of long-term assets, unused real estate amounted to 11.9 million manat ($7 million), almost unchanged per annum. Intangible assets decreased by 5.4 percent as of the end of the first quarter of 2020, amounting to 804,000 manat ($472,941) compared to 850,000 manat ($500,000) in the same period of last year. The remaining assets amounted to 14.7 million manat ($8.6 million).
(1 USD = 1.7 AZN on April 28)
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