BAKU, Azerbaijan, May 5
By Eldar Janashvili – Trend:
Azerbaijani Rabitabank decreased its total assets by 4.2 percent as of April 1, 2020, compared to April 1, 2019, Trend reports referring to the bank’s balance sheet.
The total assets fell by 30.9 million manat ($18.1 million) in annual terms to make up 709.1 million manat ($417.1 billion). Most of the assets (54.8 percent) accounted for the loan portfolio, the volume of which slid by 3 percent, making up 388.2 million manat ($228.3 million).
As reported, slightly more than half of the loan portfolio (51.1 percent) accounted for business loans in the amount of 198.56 million manat ($116.8 million), which is drop by 4 percent. Some 29.9 percent of the bank’s loan portfolio accounted for consumer loans in the amount of 115.9 million manat ($68.2 million), the share of which grew by 14.2 percent.
Slightly less than 10 percent of the loan portfolio fell on mortgage loans in the amount of 38.1 million manat, or $22.4 million (a drop of 8.5 percent). As many as 35.6 million manat ($20.9 million) accounted for other loans (9.2 percent).
The target reserves deducted from the portfolio to ensure possible losses amounted to 26.2 million manat ($15.4 million), increasing by 9.1 percent in the end of March 2020 compared to the end of March 2019.
Almost 21 percent of the assets fell on deposits with banks in the amount of 147.4 million manat ($86.7 million), dropping by 5.1 percent. Loans to banks spiked by 71.6 percent and made up 24.7 million manat ($14.5 million).
The remaining 17.8 percent of the total assets accounted for cash and its equivalents. Their volume decreased by 0.8 percent up to 126 million manat ($74.1 million).
Meanwhile, investments in securities amounted to 15.83 million manat ($9.3 million), which is 3.5 times less than in the same period of 2019.
The annual share of non-used real estate property in the structure of long-term assets made up 20 million manat ($11.7 million), a decrease by 1.2 percent on annualized basis.
Intangible assets decreased by 3.1 percent to make up 740,000 manat ($435,290). Other assets amounted to 12.4 million manat ($7.2 million).
Rabitabank was founded in 1993. Presently, it has 25 branches, including 10 branches in Baku.
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