BAKU, Azerbaijan, July 29
By Eldar Janashvili – Trend:
As of the first half of 2020, the total assets of the Azerbaijani Azer Turk Bank decreased by 2.9 percent since the beginning of the year, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets decreased by 10.2 million manat ($6 million) up to 337.5 million manat ($198.5 million).
Almost half of the bank's assets accounted for the loans issued to the clients and financial institutions, the volume of which has decreased since the beginning of the year by 10.4 percent up to 167.2 million manat ($98.3 million).
At the same time, almost 29 percent of the total loan portfolio accounted for consumer loans, the total amount of which decreased by 11.9 percent up to 210.8 million manat ($124 million).
Some 43.5 million manat ($25.6 million), the share of which has decreased by 3.8 percentage points up to 26 percent since the beginning of the year accounted for business loans, while the volume - by 29.5 percent.
The loans issued for real estate amounted to 74.6 million manat that’s $43.9 million (an increase of 7.9 percent), or about 44 percent of the entire loan portfolio. The loans issued for the banks and financial institutions in the first half of 2020 decreased by 20,000 manat ($11,764) compared to 2019.
The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to 6.7 million manat ($3.9 million), decreasing by 17.7 percent compared to last year.
The volume of cash of the bank slightly decreased by 1.35 percent, amounting to 87.6 million manat ($51.5 million). The deposits in banks and other financial institutions amounted to 27.2 million manat ($16 million) compared to 1.7 million manat ($1 million) in 2019.
In the structure of long-term assets, real estate and equipment remained almost unchanged, amounting to 4.6 million manat ($2.7 million). Intangible assets increased by 6.5 percent, amounting to 5.1 million manat ($3 million). Other assets amounted to almost 12.3 million manat ($7.2 million).
---
Follow the author on Twitter: @eldarjanashvili