BAKU, Azerbaijan, Feb. 1
By Zeyni Jafarov - Trend:
As of 2020, VTB Bank Azerbaijan increased total assets by 19.05 percent compared to 2019, Trend reports citing the bank's financial report.
In accordance with the report, total assets as of late 2020 amounted to 187.3 million manat ($110.2 million), which is by 30 million manat ($17.6 million) more than in 2019.
In the structure of assets, the main share accounted for the loan portfolio (67.2 percent), the volume of which decreased by 47.2 percent, amounting to 125.9 million manat ($74.05 million). The working portfolio, which is estimated at 88.05 million manat ($51.8 million), increased by 31.4 percent for the year.
In the structure of the loan portfolio, the volume of lending to legal entities exceeded 47.8 million manat that’s $28.1 million (an increase of 26 percent for the year) while the volume of lending to individuals - 40 million manat ($23.5 million), an increase of 38 percent for the year. Mortgage loans increased by 22.6 million manat which’s $13.3 million (48.7 percent).
Cash and cash equivalents account for over 27.6 percent of total assets. The volume reaches 51.8 million manat ($30.5 million).
The volume of deposits in other banks and financial institutions increased by 15.9 percent, amounting to 6.7 million manat ($3.9 million).
During the reporting period, VTB Bank Azerbaijan issued loans to banks and other financial institutions in the amount of 14.3 million manat ($8.4 million), which is by almost five times more on an annualized basis.
At the same time, investments in securities decreased by 24.3 percent up to 14.4 million manat ($8.5 million).
In the structure of long-term assets, unused real estate amounted to 5.1 million manat ($3 million) while intangible assets, practically unchanged for the year, amounted to 2.3 million manat ($1.3 million).
Other assets of the bank as of 2020 are estimated at 6.6 million manat ($3.9 million).
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