BAKU, Azerbaijan, April 25. Total assets of the International Bank of Azerbaijan (IBAR) increased by 27.2 percent in 1Q2022 compared to the same period last year, Trend reports citing bank's balance sheet.
According to the bank’s report, the total assets of IBAR increased by 2.49 billion manat ($1.46 billion) over the year - up to 11.64 billion manat ($6.85 billion). The largest share (36.5 percent) in their structure was cash and cash equivalents, which increased by 80.17 percent over the year - up to 4.25 billion manat ($2.5 billion).
According to results of 1Q2022, about 28.14 percent of the total assets of IBAR accounted for the loan portfolio, which grew by 23.07 percent over the year to 3.27 billion manat ($1.92 billion).
Deduction of targeted reserves from the bank’s portfolio to ensure possible losses amounted to 258.06 million manat ($151.8 million).
Another 13.08 percent of the bank's assets were investments in securities - 1.52 billion manat ($895.8 million, an increase of 12.23 percent over the year).
Unused real estate in the structure of long-term assets of IBAR amounted to 181.76 million manat ($106.9 million, having increased by 10.93 percent over the year. Intangible assets decreased by 0.05 percent over the year, amounting to 17.46 million manat ($10.2 million).
Other assets of IBAR in 1Q2022 amounted to 271.04 million manat ($159.43 million, a decrease of 12.38 percent over the year).а).