Baku, Azerbaijan, June 15
By Eldar Janashvili - Trend:
The total assets of Azerbaijan Deposit Insurance Fund amounted to 1.03 million manat ($607,100 million) in 2019, which is 8 percent more compared to the preceding year, Trend reports with reference to the fund’s audit report.
Most of the assets,nearly 77 percent, accounted for state promissory notes – 791.5 million manat or $466.5 million (an increase over the year by 0.1 percent). About 18.3 percent of all assets accounted for cash and its equivalents making up 187,800 manat ($110,698), which is 1.8 times up on an annualized basis. Calculated insurance claims made up nearly 9.3 million manat ($5.4 million), which is 19.1 percent more compared to the same period in 2018.
Property and equipment amounted to nearly 1.2 million manat ($695,500), a decrease of 14 percent year-on-year. Intangible assets amounted to 869,960 manat ($512,796), which is 5 times more than in 2018. Other assets amounted to 37.7 million manat ($22.2 million), 20 percent less than a year earlier.
The total volume of liabilities amounted to slightly over 11 million manat ($6.5 million), showing 0.4-percent decline compared to 2018. Meanwhile, 99.6 percent of liabilities accounted for payment of indemnities totaling 5.6 million manat (nearly $3.3 million). Other liabilities amounted to 41,470 manat ($24,444).
The total capital of the fund increased by 8 percent to slightly over 1.02 billion manat ($601.2 million) due to a reduction of almost 22.5 percent in the organization’s uncovered loss.
The fund has been operating in Azerbaijan since 2007.
(1 USD = 1.7 AZN on June 15)
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