BAKU, Azerbaijan, Feb. 9
By Zeyni Jafarov - Trend:
As of four quarters of 2020, Azerbaijani Bank Respublika’s total assets decreased by 26.8 percent compared to the same period of 2019, Trend reports on Feb. 9 with reference to the bank's balance sheet.
In accordance with the report, total assets decreased by 378.9 million manat ($222.9 million) for the year to 1.03 billion manat ($605 million).
In the structure of assets, the biggest share (43.2 percent) accounted for the loan portfolio in the amount of 446.9 million manat ($262.9 million), which decreased by 7.8 percent during the year.
In the structure of the loan portfolio, 74.5 percent accounted for business loans in the amount of 332.8 million manat which’s $195.8 million (a decline of 6.6 percent).
About 13.4 percent accounted for consumer loans in the amount of 59.7 million manat which’s $35.1 million (a decrease of 22.7 percent).
Some 12.1 percent accounted for mortgage loans in the amount of 54.08 million manat which’s $31.8 million (an increase of eight percent for the year).
The deduction of target reserves from the portfolio to ensure possible losses amounted to 17.03 million manat ($10.01 million), an increase of 14.9 percent on an annualized basis.
Cash and cash equivalents account for over 32.7 percent of total assets. The volume decreased by 43.4 percent for the year to 338.1 million manat ($198.9 million).
The volume of deposits in other banks and financial institutions decreased by 2.1 times, amounting to 96.1 million manat ($56.5 million).
During the reporting year, Bank Respublika issued loans to banks and other financial institutions in the amount of 21.8 million manat ($12.8 million), which is 11.9 percent more on an annualized basis.
At the same time, investments in securities increased by 1.8 times, reaching 72.2 million manat ($42.5 million).
In the structure of long-term assets, unused real estate amounted to 42.2 million manat ($24.8 million), practically unchanged in annual terms.
Intangible assets tripled, amounting to 1.4 million manat ($823,529). Other assets of Bank Respublika as of 2020 are estimated at 28.9 million manat ($17 million).
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