Ziraat Bank Azerbaijan: half of all liabilities account for deposits

Finance Materials 20 July 2020 18:01 (UTC +04:00)
Ziraat Bank Azerbaijan: half of all liabilities account for deposits

Baku, Azerbaijan, July 20

By Fidan Babayeva - Trend:

The subsidiary of Turkey's Ziraat Bank in Azerbaijan increased its total liabilities by 6.2 percent in the second quarter of 2020 compared to the same period of last year, Trend reports referring to the bank’s balance sheet.

According to the bank, total liabilities increased by 52.1 million manat ($30.6 million) reaching 176.8 million manat ($104 million). Foreign currency accounted for 71.3 percent in the amount of 89 million manat ($52.3 million).

The largest share (48.9 percent) in the structure of liabilities is held by deposits, which grew by 31.9 percent. The volume of deposits amounted to 86.6 million manat ($50.9 million), of which 70 million manat or $41.1 million (80 percent) are presented in foreign currency. In the structure of bank deposits, private deposits of individuals, most of which are also represented in foreign currency, amounted to 13.6 million manat ($8 million).

Deposits of financial institutions, including banks, amounted to 55 million manat ($32.3 million), having risen by 1.5 times over the year.

Loro accounts, almost completely in foreign currency, amounted to 7.5 million manat ($4.4 million), which is 4.5 percent more than in the first half of 2019.

The bank’s equity in the reported period increased by 3 percent, and amounted to 68.6 million manat ($40.3 million). Share capital in the form of the volume of ordinary shares put into circulation on an annualized basis did not change and amounted to 50 million manat ($29.469 million).

The total capital amounted to 72.5 million manat ($42.6 million), having increased by 4.4 percent.