Total assets of Azerbaijani banks disclosed

Finance Materials 25 June 2020 18:59 (UTC +04:00)
Total assets of Azerbaijani banks disclosed

BAKU, Azerbaijan, June 25

By Eldar Janashvili – Trend:

The total assets of Azerbaijani banks made up 31.2 billion manat ($18.3 billion) as of June 1, 2020, which is 4.5 percent less compared to the early 2020, Trend reports on June 25 referring to the Central Bank of Azerbaijan (CBA).

According to CBA, as of June 1 this year, the biggest part in the structure of assets, about 46 percent, accounted for the loans issued to customers, the volume of which slipped by 3.6 percent to stand at 14.3 billion manat ($8.4 billion).

The volume of the target reserves deduced from the portfolio to secure the possible losses from the loans amounted to slightly over 1.3 billion manat ($760 million), decreasing by 10.3 percent compared to 2019.

After deducting the target reserves, the net volume of the issued loans amounted to 13 billion manat ($7.6 billion).

The volume of cash decreased by 1.3 percent, amounting to 1.5 million manat ($880,000). The total investments in securities amounted to 3.2 billion manat ($1.8 billion), while in late 2019 the volume amounted to only about 3.8 million manat ($2.2 million).

In the structure of long-term assets, fixed capital decreased by 25.9 percent to 730.7 million manat ($429.8 million). Intangible assets decreased by 12.4 percent amounting to 147 million manat ($86.4 million). Other assets amounted to slightly more than 1.5 million manat ($880,000).

(1 USD = 1.7 AZN on June 25)


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