Azerbaijani Nakhchivan Bank's total liabilities rise
BAKU, Azerbaijan, Aug. 10
By Eldar Janashvili - Trend:
The total liabilities Azerbaijan’s Nakhchivan Bank rose by 13.1 percent up to 153.2 million manat ($90.1 million) over the first half of 2020, Trend reports with reference to the bank's balance sheet.
Some 17.2 percent or 26.3 million manat ($15.4 million) of increased total liabilities accounted for foreign currency, the report said.
According to the report, in the structure of liabilities, a significant share (62.3 percent) belongs to deposits, which grew by 6.8 percent and exceeded 95.4 million manat ($56.1 million). At the same time, 79.4 percent of all deposits accounted for term deposits of legal entities, which increased by 5.8 million manat ($3.4 million) up to 75.7 million manat ($44.5 million).
In 1H2020, deposits in foreign currency accounted for 27.5 percent of the deposit portfolio - 26.3 million manat ($15.4 million), which is twice more compared to 1H2019.
Other liabilities of the bank amounted to 57.8 million manat ($34 million), showing an increase of 25.5 percent over the year. Only 0.01 percent or 58,000 manat ($34,117) of these liabilities fell on foreign currency.
As reported, the bank's own capital increased by 9.7 percent on an annualized basis and surpassed 87.2 million manat ($51.3 million). Capital reserves amounted to 1.4 million manat ($823,529), an increase of 1.5 times.
The total capital totaled over 88.6 million manat ($52.1 million), having increased by 10.3 percent year-on-year.
(1 USD = 1.7 manat on Aug. 10)