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Azerbaijan Industry Bank’s assets up

Finance Materials 22 July 2020 18:12
Azerbaijan Industry Bank’s assets up

BAKU, Azerbaijan, July 22

By Fidan Babayeva – Trend:

Azerbaijan Industry Bank’s volume of total assets decreased by 0.8 percent at the end of the second quarter of 2020 compared to the same period of 2019, Trend reports referring to the bank's financial report.

In accordance with the report, total assets at the end of June amounted to 924 million manat ($543 million), which is nine million manat ($5.3 million) more than last year.

In the structure of assets, the main share accounted for deposits in banks and other financial institutions (48 percent), the volume of which decreased by nine percent, amounting to 449.4 million manat ($264.3 million).

The volume of cash and cash equivalents decreased by 29.5 percent up to 15.6 million manat ($9.2 million).

The bank's liabilities also increased during the first six months of this year. The total liabilities as of July 1, 2020 amounted to 821.8 million manat ($483.4 million).

In the structure of liabilities, the main share accounted for deposits of banks and financial institutions (79.7 percent), the volume of which amounted to 655.3 million manat ($385.5 million), an increase of 0.5 percent compared to the same period of last year.

The deposits of banks and other financial institutions increased by 2.7 percent and amounted to 47.5 million manat ($27.9 million).

The bank's equity capital increased by 6.6 percent during the reporting period, reaching 96.3 million manat ($56.6 million).

(1 USD = 1.7 AZN on July 22)

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