BAKU, Azerbaijan, Jan. 21
By Zeyni Jafarov - Trend:
As of 2020, Azerbaijan Industry Bank’s (ASB) volume of total liabilities decreased by 8.8 percent (78.1 million manat that’s $45.9 million) compared to 2019 up to 807.4 million manat ($474.9 million), Trend reports with reference to the balance sheet of the bank.
A big share (79.3 percent) in the structure of liabilities accounted for deposits, which also decreased by 10.5 percent for the year, amounting to 639.9 million manat ($376.4 million).
The deposits of credit organizations and other financial institutions decreased by 0.9 percent and amounted to 114.1 million manat ($67.1 million).
Other liabilities are estimated at 10.6 million manat which’s $6.2 million (decreasing by 13.8 percent).
In accordance with the report, the bank's share capital remained unchanged and amounted to 60 million manat ($35.3 million).
Retained earnings reached 38.1 million manat ($22.4 million), an increase of 15.7 percent for the year.
The bank's capital reserves amounted to 6.01 million manat which’s $3.5 million (a decrease of 10.3 percent).
The total capital of ASB Bank by the end of 2020 amounted to 104.1 million manat ($61.2 million), an increase of 4.5 percent on an annualized basis.