Liabilities of Turkey's Azerbaijani subsidiary bank notably grow

Finance Materials 27 October 2020 13:14 (UTC +04:00)
Liabilities of Turkey's Azerbaijani subsidiary bank notably grow

Baku, Azerbaijan, Oct.27

By Zeyni Jafarov - Trend:

The subsidiary of Turkey's Ziraat Bank in Azerbaijan increased its total liabilities by 32 percent in the third quarter of 2020 compared to the same period of last year, Trend reports referring to the bank’s balance sheet.

According to the bank, total liabilities increased by 50.2 million manat ($29.5 million) reaching 207.2 million manat ($121.8 million). Foreign currency accounted for 59.4 percent in the amount of 123 million manat ($72.3 million).

The largest share (65.2 percent) in the structure of liabilities is held by deposits, which grew by 70.4 percent. The volume of deposits amounted to 135.2 million manat ($79.5 million), of which nearly 104.7 million manat or $61.5 million (77.5 percent) are presented in foreign currency.

In the structure of bank deposits, private deposits of individuals, most of which are also represented in foreign currency, amounted to 22 million manat ($12.9 million).

Loro accounts, more than 70 percent in foreign currency, amounted to 3.2 million manat ($1.8 million), which is 42.4 percent less than in the past nine months of 2019.

The bank’s equity in the reporting period increased by 3.1 percent, and made up 69.9 million manat ($41.1 million). Share capital in the form of the volume of ordinary shares put into circulation on an annualized basis did not change and amounted to 50 million manat ($29.469 million).

The total capital amounted to 73.3 million manat ($43.1 million), having grown by 3.4 percent.

(1 USD = 1.7 manat on Oct. 27)


Follow the author on Twitter: @jafarov_zeyni