BAKU, Azerbaijan, July 24
By Fidan Babayeva - Trend:
The total assets of the Azerbaijani Express Bank OJSC dropped by 11.3 percent in the second quarter of 2020, Trend reports referring to the bank's balance sheet.
According to the report, the bank’s total assets dropped by 48.1 million manat ($28.3 million) over the year, and amounted to 300.5 million manat ($176.7 million). In the structure of assets, the largest share (71 percent) belongs to the loan portfolio in the amount of 215.8 million manat ($126.9 million), which is dropped by 13.9 percent. Consumer loans of the bank made up 120.1 million manat ($70.6 million), decreasing by 3.6 percent, business loans - 67.3 million manat ($39.5 million), an increase of 15.2 percent.
In the reporting period, slightly less than 10 percent of the bank’s loan portfolio accounted for mortgage loans in the amount of 28.3 million manat ($16.6 million).
In the structure of assets, 8 percent accounted for cash and cash equivalents in the amount of 24.6 million manat ($14.4 million), which is declined 2.5 times year-on-year. Some 3.6 percent of the total assets accounted for loans to other banks and other financial institutions - 10.9 million manat ($6.4 million).
Deposits of banks and other financial institutions, in turn, amounted to 2.4 million manat ($1.4 million). Investments in securities amounted to 32.5 million manat ($19.1 million).
(1 USD = 1.7 manat on July 24)