BAKU, Azerbaijan, July 30
By Eldar Janashvili – Trend:
As of the first half of 2020, the total assets of Azerbaijan’s Qala Hayat insurance company increased by 5.6 percent since the beginning of the year, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets increased by 200,000 manat ($117,647) up to 37.9 million manat ($22.3 million).
In the structure of assets, the biggest part, about 34 percent, accounted for the purchased short-term state securities worth 12.9 million manat ($7.6 million). The share decreased by 7.8 percentage points, while the volume - by 2.1 million manat that’s $1.2 million (over 14 percent).
Some 17 percent of all assets in the amount of 6.5 million manat that’s $3.8 million (a decrease of 9.2 percent) accounted for cash. The insurance receivables amounted to 3.07 million manat ($1.8 million), which is 2.5 times more than in 2019. Other accounts receivable amounted to 449,800 manat ($264,588).
In the structure of long-term assets, real estate and equipment slightly decreased by 15.1 percent up to 822,590 manat ($483,876). Intangible assets decreased by 6.4 percent, amounting to 677,640 manat ($398,611).
The purchased long-term securities amounted to 7.7 million manat ($4.5 million). Other assets amounted to almost 4.1 million manat ($2.4 million).
The total capital of the company amounted to 2.3 million manat ($1.3 million), decreasing by 11.8 percent since the beginning of the year.
(1 USD = 1.7 AZN on July 30)
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