BAKU, Azerbaijan, Feb. 3
By Zeyni Jafarov - Trend:
As of 2020, the Bank of Baku increased total liabilities by 5.1 percent compared to 2019, Trend reports on Feb. 3 citing the bank's balance sheet.
In accordance with the report, total liabilities increased by 16.08 million manat ($9.4 million), reaching 333.2 million manat ($196 million).
In the structure of liabilities, a big share (58.1 percent) accounts for deposits, which increased by 5.6 percent and amounted to 193.5 million manat ($113.8 million).
At the same time, about 88.6 percent accounted for deposits of individuals in the amount of 171.5 million manat ($100.9 million). The deposits of legal entities accounted for 11.35 percent - 21.9 million manat ($12.9 million).
The liabilities to the credit organizations and other financial institutions decreased by 10.2 percent for the year and are estimated at 29.3 million manat ($17.2 million).
Bank of Baku's liabilities to the Central Bank of Azerbaijan amounted to 85.3 million manat ($50.2 million), increasing by 10.3 percent on an annualized basis. Other liabilities reached 6.2 million manat which’s $3.6 million (a decline of 12 percent).
In accordance with the report, the share capital of the bank, unchanged on an annualized basis, remained at 52.9 million manat ($31.1 million).
Retained earnings are estimated at 16.2 million manat ($9.5 million), which is almost seven times more than in 2019. Capital reserves amounted to 7.3 million manat that’s $4.3 million (decline by 16.5 percent).
The total capital amounted to 76.4 million manat ($44.9 million), increasing by 19.4 percent in annual circulation.
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