BAKU, Azerbaijan, April 22. Total assets of Azerbaijani TuranBank increased by 25.7 percent in 1Q2022 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 153.9 million manat ($90.5 million) over the year - up to 751.6 million manat ($442.1 million). The largest share (60.08 percent) in their structure was the loan portfolio, which grew by 28.3 percent over the year to 456.9 million manat ($268.7 million). The deduction of targeted reserves to ensure possible losses amounted to 5.5 million manat ($3.2 million).
According to the results of 1Q2022, about 20.8 percent of TuranBank's total assets were cash and cash equivalents, which increased by 19.2 percent over the year to 156.4 million manat ($92 million).
Another 7.8 percent of the bank's assets were investments in securities - 59.3 million manat ($34.8 million, an increase of 40.9 percent over the year).
Unused real estate amounted to 27.9 million manat ($16.4 million, an increase of 55.96 percent over the year) in the structure of TuranBank's long-term assets.
Intangible assets increased over the year by 2.02 percent, amounting to 405,000 manat ($238,200). Other assets of the bank in 1Q2022 amounted to 15.7 million manat ($9.2 million, an increase of 14.5 percent over the year).