Assets of Azerbaijan’s AccessBank surge

Finance Materials 5 June 2020 14:23 (UTC +04:00)
Assets of Azerbaijan’s AccessBank  surge

BAKU, Azerbaijan, June 5

By Eldar Janashvili – Trend:

As of end of 2019, the total assets of Azerbaijan’s AccessBank increased by 10.8 percent for the year, Trend reports referring to the audited annual financial report of the bank.

According to the report, total assets increased by 83.9 million manat ($49.3 million), reaching 863.3 million manat ($507.8 million).

The biggest part in the structure of assets, about 79.3 percent, accounted for the loans issued to customers, the volume of which increased by 1.3 percent, reaching almost 611 million manat ($359 million).

At the same time, over 45 percent of the total loan portfolio accounted for microloans, the total amount of which grew year-on-year by 31.5 percent up to 308.7 million manat ($181.6 million).

Some 44.5 percent of the total loan portfolio in the amount of 60.5 million manat ($35.6 million) accounted for the loans for small and medium-sized enterprises, the volume of which increased by 16.6 percent.

The consumer loans decreased by 34.1 percent, amounting to 70.8 million manat ($41.6 million), or about 10.3 percent of the total loan portfolio.

The deduction of the target reserves from the portfolio to ensure the possible losses from the loans amounted to a little more than 120.8 million manat ($71.05 million), decreasing by 34.1 percent compared to 2018.

After deducting the target reserves, the net volume of the issued loans amounted to 563.6 million manat ($331.5 million), which is 8.1 percent more than in 2018.

The volume of cash decreased by 9.3 percent amounting to 132.2 million manat ($77.8 million). The investments in securities amounted to about 34 million manat ($20 million), while in 2018 the volume amounted to only about 1.8 million manat ($1.05 million).

In the structure of long-term assets, real estate and equipment decreased by 4.4 percent up to 31.1 million manat ($18.3 million). Intangible assets decreased by 17.6 percent amounting to 15.3 million manat ($9 million). Other assets amounted to slightly more than 71.8 million manat ($42.2 million).

(1 USD = 1.7 AZN on June 5)


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