BAKU, Azerbaijan, Feb. 26
By Zeyni Jafarov - Trend:
The assets of the Azerbaijani banks in January 2021 totaled over 31.9 billion manat ($18.7 billion), down by 2.8 percent compared to the same month of 2020, Trend reports referring to the statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA’s report, during the reporting month, the largest part (44.5 percent) of the assets fell on loans issued to customers, the value of which reduced by 6 percent over the year, to 14.2 billion manat ($8.3 billion).
"The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to slightly more than 1.1 billion manat ($680 million), decreasing by 21.2 percent year on year. After deducting target reserves, the net volume of issued loans amounted to slightly over 13 billion manat ($7.6 billion)," the CBA report said.
“The volume of cash funds grew by 15.9 percent, amounting to 1.61 billion manat ($950 million). In January this year, investments in securities made up over 4.6 billion manat ($2.7 billion), while in January 2020, their value was 2.98 billion manat ($1.7 billion), an increase of 57 percent,” said the report.
“In the structure of long-term assets, fixed assets, having decreased on an annualized basis by 36.3 percent, amounted to 736.7 million manat ($433.3 million). Intangible assets shrank by 11.4 percent, amounting to 147.3 million manat ($86.6 billion). Other assets made up 1.43 billion manat ($840 million),” said the report.
“The total capital of banks in January 2021 grew by 1.6 percent and exceeded 4.7 billion manat ($2.7 billion), while the banks' own capital amounted to 4.39 billion manat ($2.58 billion), and the capital reserves of banks – 329.7 million manat ($193.9 million).
(1 USD = 1.7 AZN on Feb. 26)