BAKU, Azerbaijan, July 24
By Fidan Babayeva – Trend:
Azerbaijan's Expressbank increased net profit by 2.1 times at the end of the second quarter of this year, Trend reports referring to the bank's balance sheet.
The bank's net profit in the first half of 2020 amounted to 6.6 million manat ($3.9 million). The bank reduced total liabilities by 26 percent up to 179.2 million manat ($105.4 million).
In the structure of liabilities, a big share (70 percent) accounted for the deposits - 126.2 million manat ($74.2 million).
At the same time, more than 84.9 percent accounted for deposits of individuals in the amount of 107.8 million manat ($63.4 million).
The deposits of legal entities accounted for 14.6 percent - 18.5 million manat ($10.9 million).
The liabilities to the CBA, credit institutions and other financial institutions amounted to 4.8 million manat ($2.8 million) compared to late 2019. Other liabilities amounted to 9.7 million manat ($5.7 million).
The bank's share capital remained unchanged on an annualized basis and amounted to 121.3 million manat ($71.3 million). The uncovered loss amounted to 5.1 million manat ($3 million).
The total capital amounted to 112.5 million manat ($66.2 million), decreasing by 9 percent.
(1 USD = 1.7 AZN on July 24)
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