BAKU, Azerbaijan, Feb. 4
By Zeyni Jafarov - Trend:
As of four quarters of 2020, Bank of Baku increased total assets by 7.5 percent compared to the same period of 2019, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets increased by 28.5 million manat ($16.8 million) for the year, reaching 409.6 million manat ($240.9 million).
In the structure of assets, the biggest share (82.5 percent) accounted for the loan portfolio in the amount of 337.9 million manat ($198.8 million), which almost did not change in annual terms.
The most part of the loan portfolio of Bank of Baku (68 percent) accounted for consumer loans in the amount of 229.7 million manat ($135.1 million), which decreased by 6.6 percent.
Over 28 percent accounted for business loans in the amount of 94.9 million manat ($55.8 million), which increased by 15.9 percent on an annualized basis.
About 3.9 percent of the loan portfolio accounted for real estate loans in the amount of 13.3 million manat which’s $7.8 million (an increase of 51.8 percent).
The deduction of target reserves to ensure possible losses amounted to 98.6 million manat ($58 million), a decrease of 16.6 percent compared to 2019.
Cash and cash equivalents account for 22.5 percent of total assets. The volume increased by 2.2 times up to 92.1 million manat ($54.2 million).
Investments in securities amounted to 40.5 million manat ($23.8 million), which is equivalent to about 10 percent of total assets.
Deposits in banks and other financial institutions amounted to 8.7 million manat that’s $5.1 million (a decrease of 40.8 percent for the year) while loans to banks and financial institutions – 841,500 manat ($495,000).
In the structure of long-term assets, intangible assets amounted to 743,700 manat ($437,470) compared to 850,400 manat ($500,235) in 2019. Other assets reached 16.2 million manat ($9.5 million).
-----
Follow the author on Twitter:@jafarov_zeyni