Azerbaijani AFB Bank’s volume of total assets down in 2020

Finance Materials 8 February 2021 18:29 (UTC +04:00)

BAKU, Azerbaijan, Feb. 8

By Zeyni Jafarov - Trend:

As of four quarters of 2020, Azerbaijani AFB Bank’s total assets decreased by 51 percent compared to the same period of 2019, Trend reports on Feb. 8, citing the bank's balance sheet.

In accordance with the report, total assets decreased by 293.3 million manat ($172.5 million) for the year up to 281.4 million manat ($165.5 million).

In the structure of assets, the biggest share (64.75 percent) accounted for the loan portfolio in the amount of 182.2 million manat ($107.2 million), decreasing by 50.2 percent.

In the structure of the loan portfolio, 62.25 percent accounted for business loans in the amount of 113.4 million manat that’s $66.7 million (a decline of 61.1 percent).

About 22.5 percent accounted for mortgage loans in the amount of 41.04 million manat that’s $24.1 million (an increase of 0.4 percent).

Some 15.2 percent accounted for consumer loans in the amount of 27.7 million manat that’s $16.3 million (a decrease of 17.6 percent for the year).

The deduction of target reserves from the portfolio to ensure possible losses amounted to 44.2 million manat ($26 million), practically unchanged on an annualized basis.

Cash and cash equivalents account for over 25.9 percent of total assets. The volume decreased in annual circulation by 3.2 percent, up to 72.9 million manat ($42.9 million).

The volume of deposits in other banks and financial institutions tripled, amounting to 12.8 million manat ($7.5 million). Investments in securities decreased by 7.4 times to 16.9 million manat ($9.9 million).

In the structure of long-term assets, unused real estate amounted to 29.4 million manat ($17.3 million), decreasing by 6.1 percent for the year.

Intangible assets decreased by two percent, amounting to 1.3 million manat ($764,705). Other assets of AFB Bank as of 2020 are estimated at 10.2 million manat ($6 million).


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