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Total assets of Azerbaijani banks for 2020 revealed

Finance Materials 27 January 2021 15:36
Total assets of Azerbaijani banks for 2020 revealed

BAKU, Azerbaijan, Jan. 27

By Zeyni Jafarov - Trend:

The total assets of Azerbaijani banks amounted to 32 billion manat ($18.8 billion) in 2020, which is 2 percent less compared to 2019, Trend reports citing a statistical report of the Central Bank of Azerbaijan (CBA).

According to the CBA, in the structure of assets, the largest part (44.2 percent) fell on issued loans, which dropped by 5 percent over the year, to 14.1 billion manat ($8.3 billion).

“The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to 1.13 billion manat ($664.7 million), decreasing by 21.6 percent in annual terms. After deducting target reserves, the net volume of issued loans amounted to 13 billion manat ($7.64 billion),” said the CBA report.

"The volume of banks' cash increased by 0.04 percent, amounting to 1.53 billion manat ($900 million). Investments in securities amounted to 4.33 billion manat ($2.54 billion), while by the end of 2019 their volume was at 3.26 billion manat ($1.91 billion), an increase of 33 percent," the report noted.

"In the structure of long-term assets, fixed assets, having decreased on an annualized basis by 25 percent, amounted to 741.4 million manat ($436.1 million). Intangible assets decreased by 12.75 percent, amounting to 146.4 million manat ($86.1 million). Other assets are estimated at 1.31 billion manat ($770.5 million)," the CBA said.

The total capital of banks in 2020 increased by 2.5 percent and amounted to 4.7 billion manat ($2.76 billion), while the banks' own capital approached 4.38 billion manat, and capital reserves - to 316.4 million manat ($186.1 million).

(1 USD = 1.7 AZN on Jan. 27)

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