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Total assets of Azerbaijan's Bank Respublika in 1Q2020 revealed

Finance Materials 28 April 2020 16:45 (UTC +04:00)
Total assets of Azerbaijan's Bank Respublika in 1Q2020 revealed

Baku, Azerbaijan, Apr. 28

By Eldar Janashvili – Trend:

The Azerbaijani Bank Respublika’s total assets decreased by 4.8 percent in the first quarter of 2020 compared to the same period of 2019, Trend reports referring to the bank’s balance sheet.

According to the balance sheet, the total assets reduced by 68.2 million manat ($40.1 million) up to 1.3 billion manat ($790 million).

Most of the assets (35.5 percent) accounted for the loan portfolio, the volume of which increased by 1.5 percent up to 477.2 million manat ($280.7 million).

The major part of the bank’s loan portfolio (73 percent) accounted for business loans in the amount of 348.3 million manat ($204.9 million), the share of which grew by 2.3 percent.

As reported, 16.7 percent were consumer loans in the amount of 79.8 million manat ($46.9 million), the annual share of which grew by 3.4 percent. Nearly 10.1 percent of the loan portfolio accounted for mortgage loans in the amount of 48.3 million manat, or $28.4 million (a decrease of 3.5 percent).

The target reserves deducted from the portfolio to ensure possible losses amounted to 16.5 million manat ($9.7 million), increasing by 11.9 percent in the end of March 2020 compared to the end of March 2019.

Some 27.6 percent of the total assets volume account for cash and its equivalents. Their volume decreased by 38 percent – from 597.2 million ($351.3 million) to 370.5 million manat ($217.9 million).

Investments in securities amounted to 64.6 million manat ($38 million), which is 62 percent more than in the same period of 2019.

Slightly over 25 percent of the total assets accounted for deposits with banks and other financial institutions, amounting to 344.3 million manat ($202.5 million).

Loans issued to banks and financial institutions made up 20.9 million manat ($12.2 million), which is increase of 7.5 percent.

The annual share of non-used real estate property remained almost unchanged in the structure of long-term assets, standing at 43.2 million manat, or $25.4 million (increase of 1.3 percent).

Intangible assets decreased by 5.5 percent to make up 442,400 manat ($260,200) compared to 467,900 manat ($275,240) in the same period of last year.

Other assets amounted to 33.1 million manat ($19.4 million).

Bank Respublika OJSC has been operating in Azerbaijan since 1992.

($1 = 1.7 manat on Apr.28)

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Follow the author on Twitter: @eldarjanashvili

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