BAKU, Azerbaijan, May 1
By Eldar Janashvili - Trend:
The Azerbaijan Mortgage and Credit Guarantee Fund increased its total assets by 10.2 percent in 2019 compared to 2018, Trend reports citing the fund’s balance sheet.
The total assets increased by 129.5 million manat ($76.9 million) to 1.4 billion manat ($0.8 billion). In the structure of assets, the main share (71 percent) accounted for mortgage portfolio in the amount of 998.1 million manat ($587.1 million) and increased by 11.5 percent on an annualized basis.
Another 9.6 percent of total assets accounted for cash and cash equivalents. Their volume increased almost 2.5 times, from 55.8 million manat ($32.8 million) to 136.2 million manat ($80.1 million).
Deposits with banks and other financial institutions amounted to 23.8 million manat ($14 million). Investments held to maturity amounted to 301.3 million manat ($177.2 million), an increase of 11.6 percent year on year.
In the structure of long-term assets, unused real estate and intangible assets amounted to 166.7 million manat ($98 million), an increase of 2.3 times year on year. Other assets amounted to 201.2 million manat ($118.3 million), 3.5 times more than in 2018.
The fund also increased its total liabilities by 1.4 percent to 754 million manat ($443 million). A significant share (51.8 percent) accounted for issued securities, which increased by 5.4 percent and amounted to 728.9 million manat ($428.7 million).
Other liabilities amounted to 25.4 million manat ($14.9 million), showing a decrease of more than 2 times.
Deductions from the state budget increased by 21.5 percent on an annualized basis and amounted to 566 million manat ($332 million). Retained earnings amounted to 67.1 million manat ($39.4 million), an increase of 42.2 percent over the year. Profit for current fiscal year amounted to 18.7 million manat ($11 million), a decrease of 3.3 percent.
Total capital amounted to 651.8 million manat ($383.4 million), an increase of 22.4 percent.
(1 USD = 1.7 manat on May 1)
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