BAKU, Azerbaijan, April 20. The total assets of Azerbaijan’s Bank of Baku increased by 21.3 percent in1Q2022 compared to the same period last year, Trend reports citing the bank's balance sheet.
According to the report, the total assets of the bank increased by 92.4 million manat ($54.3 million) over the year - up to 524.6 million manat ($308.6 million).
The largest share (82.72 percent) in their structure was the loan portfolio, which grew by 22.12 percent over the year to 433.9 million manat ($255.2 million).
The deduction of targeted reserves from the bank's portfolio to ensure possible losses amounted to 69.07 million manat ($40.6 million).
According to the results of 1Q2022, about 15.1 percent of the Bank of Baku's total assets were cash and cash equivalents, which decreased by 19.99 percent over the year to 79.1 million manat ($46.5 million).
Another 7.22 percent of the bank's assets were investments in securities - 37.8 million manat ($22.2 million, a decrease of 18.9 percent over the year).
In the structure of long-term assets of the Bank of Baku, unused real estate amounted to 10.3 million manat ($6.05 million), having decreased by 8.24 percent over the year. Intangible assets decreased by 26.9 percent over the year, amounting to 508,600 manat ($299,100).
Other assets of the bank in 1Q2022 amounted to 14.3 million manat ($8.4 million, a decrease of 17.4 percent over the year).