BAKU, Azerbaijan, July 16
By Fidan Babayeva – Trend:
Azerbaijan’s Kapital Bank OJSC increased its total assets by 33 percent in the first half of 2020 compared to the same period in 2019, Trend reports citing the bank’s balance sheet.
According to the balance sheet, total assets of the bank increased by 1.2 billion manat ($710 million) up to 4.8 billion manat ($2.8 billion) for the year. In the structure of assets, the largest share (44.2 percent) accounted for the loan portfolio in the amount of 2.1 billion manat ($1.2 billion), showing an increase of 31 percent.
Some 27 percent of Kapital Bank's loan portfolio accounted for consumer loans in the amount of 1.3 billion manat ($760 million), the increase of 12.6 percent.
Nearly 12.4 percent accounted for business loans in the amount of 608 million manat ($357.6 million), the increase of 1.5 times. Another 3.9 percent accounted for mortgage loans in the amount of 192 million manat ($112.9 million), showing the increase of 3.9 times. The deduction of target reserves from the portfolio for ensuring possible losses amounted to 278 million manat ($163.5 million) grew by 14.8 percent compared to the late June of last year.
A little more than 30 percent of total assets accounted for cash and cash equivalents. Their volume increased by 2.1 times, up to 1.4 billion manat ($820 million).
The volume of deposits in other banks and financial institutions slipped by 2.9 percent, having amounted to 503.4 million manat ($296.1 million). During the reporting period, the bank issued loans worth 9.7 million manat ($5.7 million) to other banks and financial institutions, which is almost 21 times more compared to the same period in 2019. At the same time, investment in securities plunged by 41 percent to 492 million manat ($289.4 million).
Unused real estate in the structure of long-term assets made up 58 million manat ($34.1 million), having risen by 34 percent. Intangible assets increased by 21.2 percent, having stood at 23.7 million manat ($13.9 million).
(1 USD = 1.7 AZN on July 16)
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