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Azerbaijan’s AzerTurkBank increases aggregate assets

Finance Materials 22 April 2022 09:28 (UTC +04:00)
Azerbaijan’s AzerTurkBank increases aggregate assets
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 22. Total assets of Azerbaijan’s AzerTurkBank in 1Q2022 increased by 32.88 percent 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 108.7 million manat ($63.9 million) over the year - up to 439.2 million manat ($258.3 million).

Largest share (55.8 percent) in structure of bank's assets was the loan portfolio, which grew by 50.86 percent over the year to 245.1 million manat ($144.1 million). The deduction of targeted reserves to ensure possible losses amounted to 6.4 million manat ($3.7 million).

According to the results of 1Q2022, about 18.7 percent of the total assets of AzerTurkBank were cash and cash equivalents, which decreased by 20.23 percent over the year to 82.2 million manat ($48.3 million).

Another 14.65 percent of the bank's assets were investments in securities - 64.3 million manat ($37.8 million, an increase of 108.98 percent over the year).

Unused real estate in the structure of long-term assets of AzerTurkBank, amounted to 5.5 million manat ($3.2 million, an increase of 23.26 percent over the year). Intangible assets decreased by 5.55 percent over the year, amounting to 5.4 million manat ($3.2 million). Other assets of the bank in 1Q2022 amounted to 26.6 million manat ($15.6 million, an increase of 105.86 percent over the year).

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