BAKU, Azerbaijan, April 20
By Zeyni Jafarov – Trend:
The total liabilities of the International Bank of Azerbaijan (IBA) in the first quarter of 2021 increased by 4.1 percent compared to the first quarter of 2020, Trend reports citing the bank's balance sheet.
In accordance with the report, total liabilities increased by 310.1 million manat ($182.4 million) to 7.8 billion manat ($4.6 billion).
A big share (73.2 percent) in the structure of liabilities accounted for the deposits, which increased by 6.6 percent for the year and amounted to 5.7 billion manat ($3.3 billion).
At the same time, about 79.1 percent accounted for the deposits of legal entities, which increased by 7.3 percent to 4.5 billion manat ($2.6 billion).
Some 20.9 percent - 1.2 billion manat ($705 million) accounted for the deposits of individuals while the growth compared to the same period of 2020 amounted to four percent.
The liabilities to the credit organizations and other financial institutions decreased by 1.8 times for the year and amounted to 166.6 million manat ($98 million).
The deferred tax liabilities amounted to 16.05 million manat ($9.4 million), doubling year on year.
The current tax liabilities amounted to 16.09 million manat ($9.5 million), which is by four times more than in the first quarter of 2020.
Other liabilities reached 153 million manat that’s $90 million (an increase of 33.8 percent on an annualized basis).
In accordance with the report, the share capital of the bank on an annualized basis did not change and amounted to 1.2 billion manat ($705 million). The capital reserves equaled 130.3 million manat or $76.6 million (an increase of three percent).
The total capital of the International Bank of Azerbaijan in the first quarter of 2021 amounted to 1.4 billion manat ($823 million), decreasing by 2.5 percent.
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