BAKU, Azerbaijan, April 20
By Zeyni Jafarov – Trend:
The total assets of the International Bank of Azerbaijan (IBA) as of the end of the first quarter of 2021 increased by 3.1 percent compared to the same period of last year, Trend reports citing the bank's financial report.
In accordance with the report, the bank's total assets in the reporting period amounted to 9.2 billion manat ($5.4 billion), which is by 274.7 million manat ($161.6 million) more than in the same period of 2020.
The biggest share (29.1 percent) in the structure of assets accounted for the loan portfolio in the amount of 2.7 billion manat ($1.6 billion), which increased by 9.3 percent for the year.
More than half of IBA’s loan portfolio accounted for the business loans in the amount of 1.3 billion manat or $764 million (an increase of 7.9 percent).
About 23.5 percent accounted for consumer loans in the amount of 626.6 million manat or $368.6 million (an increase of 13.4 percent on an annual basis).
Some 25.9 percent accounted for the loans for real estate in the amount of 688.8 million manat or $405.2 million (an increase of 8.5 percent).
Cash and cash equivalents made up about 25.8 percent of the bank's total assets, increasing by 1.2 percent for the year to 2.4 billion manat ($1.4 billion).
IBA's deposits in banks and other financial institutions were estimated at 2.6 billion manat or $1.5 billion (a decrease of 16.5 percent for the year).
The deduction of target reserves from the portfolio to ensure possible losses amounted to 257.4 million manat ($151.4 million) and this figure increased by 7.8 percent for the year.
During the reporting period, IBA issued the loans to banks and other financial institutions in the amount of 10 million manat ($5.9 million), which is by seven percent less than at the end of the first quarter of 2020.
The investments in securities in the structure of the bank's total assets increased by 50.3 percent for the year up to 1.4 billion manat ($823 million).
Unused real estate amounted to 163.9 million manat ($96.4 million). Intangible assets increased by 18.7 percent, amounting to 17.5 million manat ($10.3 million).
IBA’s other assets during the reporting period were estimated at 309.3 million manat ($181.9 million).
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