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International Bank of Azerbaijan unveils 2020 total liabilities

Finance Materials 19 January 2021 17:41
International Bank of Azerbaijan unveils 2020 total liabilities

BAKU, Azerbaijan, Jan. 19

By Zeyni Jafarov – Trend:

The total liabilities of the International Bank of Azerbaijan (IBA) decreased by 3.1 percent in 2020 compared to 2019, Trend reports citing the bank's balance sheet.

According to the report, in terms of money, the total liabilities decreased by 247.5 million manat ($145.5 million) to 7.63 billion manat ($4.48 billion).

In the structure of liabilities, a significant share (72.7 percent) belongs to deposits, which decreased by 1.5 percent over the year and amounted to 5.55 billion manat ($3.26 billion).

At the same time, more than 76.7 percent fell on deposits of legal entities, which dropped by 4.2 percent to 4.26 billion manat ($2.5 billion). The deposits of individuals accounted for 23.2 percent - 1.29 billion manat ($758.8 million), an increase of 8.6 percent year on year.

Liabilities to credit organizations and other financial institutions decreased 1.7 times over the year and amounted to 192.4 million manat ($113.1 million). Deferred tax liabilities amounted to 16.05 million manat, doubling on an annualized basis.

Current tax liabilities amounted to 7.2 million manat, which is 90.1 percent less than in 2019. Other liabilities amounted to 134.8 million manat ($792.9 million) (almost unchanged on an annualized basis).

The bank's share capital on an annualized basis did not change and amounted to 1.225 billion manat. Capital reserves amounted to 122.6 million manat ($72.1 million), an increase of 6.6 percent.

The total capital of the IBA in 2020 amounted to 1.33 billion manat ($782.3 million), decreasing by 1 percent.

(1 USD = 1.7 AZN on Jan. 19)

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