Azerbaijan discloses total assets of local banks

Finance Materials 28 December 2020 17:53 (UTC +04:00)
Azerbaijan discloses total assets of local banks

BAKU, Azerbaijan, Dec. 28

By Zeyni Jafarov - Trend:

The assets of the Azerbaijani banks as of early December 2020 made up 30.74 billion manat ($18.08 billion), down by 6.05 percent compared to early December 2019, Trend reports referring to the statistical report of the Central Bank of Azerbaijan (CBA).

According to the CBA report, as of December 1, 2020, in the structure of assets, the largest part (46.5 percent) belongs to loans issued to customers, the volume of which reduced by 4 percent over the year , to 14.3 billion manat ($8.4 billion).

"The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to slightly more than 1.2 billion manat ($710 million), decreasing by 17.3 percent year on year. After deducting target reserves, the net volume of issued loans amounted to over 13.1 billion manat ($7.7 billion)," the CBA report reads.

“The volume of cash funds decreased by 15.4 percent, amounting to 1.3 billion manat ($760 million). As of early December this year, investments in securities made up over 4.4 billion manat ($2.6 billion), while by early December 2019, their volume was 3.3 billion manat ($1.9 billion), an increase of 37 percent,” said the report.

“In the structure of long-term assets, fixed assets, having decreased on an annualized basis by 25 percent, amounted to 740.9 million manat ($435.8 million). Intangible assets decreased by 20.3 percent, amounting to 133.7 million manat ($78.6 billion). Other assets made up nearly 1.52 billion manat ($890 million),” said the report.

“The total capital of banks as of early December this year grew by 1.7 percent and exceeded 4.6 billion manat ($2.7 billion), while the banks' own capital amounted to 4.35 billion manat ($2.56 billion), and the capital reserves of banks – 311.6 million manat ($183.3 million).

(1 USD = 1.7 manat on Dec. 28)


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