Considerable portion of liabilities of Turkish Ziraat Bank in Azerbaijan accounts for deposits

Finance Materials 15 February 2021 17:09 (UTC +04:00)

BAKU, Azerbaijan, Feb. 15

By Zeyni Jafarov - Trend:

As of four quarters of 2020, the subsidiary bank of the Turkish Ziraat Bank in Azerbaijan increased total liabilities by 23.3 percent compared to 2019, Trend reports citing the bank's balance sheet.

In accordance with the report, total liabilities increased by 42.5 million manat ($25 million), reaching 224.8 million manat ($132.2 million). Foreign currency accounted for 55.8 percent in the amount of 125.5 million manat that’s $73.8 million.

In the structure of liabilities, the biggest share (67.5 percent) accounted for deposits, which increased by 77.3 percent for the year. The volume of deposits amounted to 151.9 million manat ($89.3 million), of which 110 million manat that’s $64.7 million (72.5 percent) were in foreign currency.

In the structure of bank deposits, private deposits of individuals, most of which are also in foreign currency, amounted to 18.2 million manat ($10.7 million). The deposits of financial institutions, including banks, amounted to 61.4 million manat ($36.1 million), decreasing by 3.6 percent for the year.

Loro accounts, 71.5 percent (1.6 million manat that’s $941,176) are in foreign currency, which is by 82.1 percent less than in 2019.

In accordance with the report, the bank's own capital increased by 3.1 percent in the reporting year, amounting to 70.1 million manat ($41.2 million).

The share capital in the form of the volume of ordinary shares on an annualized basis remained unchanged and amounted to 50 million manat ($29.4 million).

The total capital of Ziraat Bank amounted to 74.1 million manat ($43.6 million) in 2020, increasing by 4.1 percent.


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