BAKU, Azerbaijan, Feb. 8
By Zeyni Jafarov - Trend:
As of 2020, Azerbaijani AFB Bank’s total liabilities decreased by 58.7 percent compared to late 2019, Trend reports referring to the bank's balance sheet.
In accordance with the report, the total liabilities decreased by 289.9 million manat ($170.5 million) to 204.3 million manat ($120.2 million).
In the structure of liabilities, a big share (54.1 percent) accounted for deposits, which decreased more than three times for the year and amounted to 110.6 million manat ($65.05 million).
At the same time, about 66.4 percent accounted for deposits of legal entities, which decreased by 78.7 percent to 73.4 million manat ($43.2 million).
The deposits of individuals accounted for 33.6 percent - 37.2 million manat ($21.9 million) while the growth reached 7.7 percent compared to 2019.
The liabilities to the credit organizations and other financial institutions for the year decreased by 20.7 percent and amounted to 86.7 million manat ($51 million).
The deferred tax liabilities amounted to 183,500 manat ($107,941), remaining unchanged on an annualized basis.
Obligations to the Central Bank of Azerbaijan as of 2020 are estimated at 325,000 manat ($191,176). Other liabilities amounted to 6.5 million manat that’s $3.8 million (an increase of 31.4 percent on an annualized basis).
In accordance with the report, the share capital of AFB Bank remained unchanged on an annualized basis and amounted to 70.4 million manat ($41.4 million). Capital reserves reached 1.2 million manat ($705,882).
The total capital of AFB Bank amounted to 77.09 million manat ($45.3 million) in 2020, decreasing by 4.2 percent.
----
Follow the author on Twitter: @jafarov_zeyni