Total assets of Azerbaijani banks down

Finance Materials 7 December 2020 14:31 (UTC +04:00)

BAKU, Azerbaijan, Dec. 7

By Zeyni Jafarov- Trend:

The total assets of Azerbaijani banks by early November 2020 amounted to 30.7 billion manat ($18 billion), which is 2.2 percent less compared to early November 2019, Trend reports citing a statistical report from the Central Bank of Azerbaijan (CBA).

According to the CBA report, as of November 1, 2020, in the structure of assets, the largest part (about 47 percent) belongs to loans issued to customers, the volume of which increased by 2.4 percent over the year, to 14.4 billion manat ($8.47 billion).

"The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to slightly more than 1.27 billion manat ($747 million), decreasing by 13.9 percent year on year. After deducting target reserves, the net volume of issued loans amounted to 13.1 billion manat ($7.7 billion)," the CBA report reads.

“At the same time, the volume of cash funds decreased by 3.1 percent, amounting to 1.27 billion manat ($747 million). As of early November this year, investments in securities made up 4.33 billion manat, while by early November 2019, their volume was 3.7 billion manat ($2.17 billion), an increase of 17.3 percent,” said the report.

“In the structure of long-term assets, fixed assets, having decreased on an annualized basis by 24.3 percent, amounted to 737.1 million manat ($433.5 million). Intangible assets decreased by 18.3 percent, amounting to 135.3 million manat ($79.5 billion). Other assets amounted to just over 1.38 billion manat ($811.7 million),” said the report.

“The total capital of banks in the first 11 months of this year decreased by 3 percent and amounted to 4.6 billion manat ($2.7 billion), while the banks' own capital amounted to 4.28 billion manat ($2.5 billion), and the capital reserves of the bank - 314 million manat ($184.7 million).

(1 USD = 1.7 manat on Dec. 7)


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