Total assets of Azerbaijan's ASB Bank slightly up in 1Q2020
BAKU, Azerbaijan, May 13
By Eldar Janashvili - Trend:
The total assets of Azerbaijan’s ASB Bank increased by 0.4 percent in the first quarter of 2020, compared to the same period of last year, Trend reports with reference to the bank’s balance sheet.
According to the sheet, the bank’s total assets increased by 3.6 million manat ($2.1 million), reaching 907.3 million manat ($533.7 million). Nearly half of them accounted for deposits with other banks and financial institutions, which soared 19 percent, up to 448.5 million manat ($263.8 million).
In the structure of assets, slightly over 35 percent accounted for the loan portfolio, the volume of which increased 20 percent, making up 319.7 million manat ($188 million).
The target reserves deducted from the portfolio to ensure possible losses made up 6.3 million manat ($3.7 million), remaining almost unchanged compared to the end of March 2019.
More than 7 percent of the assets fell on nostro accounts, which nevertheless dropped by 2.7 times. At the same time, corresponding accounts with the Central Bank of Azerbaijan (CBA) soared by almost 4 times from 12.7 million manat ($7.4 million) to 48.1 million manat ($28.2 million).
The volume of cash and its equivalents declined 6.7 percent, amounting to 14.5 million manat ($8.5 million). Investments in securities amounted to almost 27 million manat ($15.8 million).
In the structure of long-term assets, fixed assets grew 2.5 percent on annualized basis to make up 2.2 million manat ($1.2 million). Intangible assets decreased 5.9 percent, amounting to 1.3 million manat ($700,000). Other assets amounted to 10.4 million manat ($6.1 million).
During 1Q2020, total liabilities of the ASB Bank remained almost unchanged, dropping only 6,600 manat ($3,880), to 806.3 million manat ($474.2 million) compared to March 2019.
The overwhelming part of the bank’s liabilities (79.5 percent) accounted for deposits, the volume of which increased 0.9 percent, to over 640.7 million manat ($376.9 million). Liabilities to the CBA, credit organizations and other financial institutions amounted to 42.9 million manat ($25.2 million) since the early 2020 (a drop of 13.4 percent). Other liabilities amounted to 9.3 million manat ($5.4 million).
According to the sheet, the bank’s share capital didn’t change and stood at 60 million manat ($37.6 million). The retained earnings made up 35.2 million manat ($20.7 million), having soared 23.6 percent. The bank’s total reserves amounted to 1.4 million manat or $820,000 (an increase of 5 times).
The total capital of the bank amounted to 101.1 million manat ($59.4 million), surging 14.2 percent.
($1= 1.7 manat on May 13).