BAKU, Azerbaijan, April 25. Total assets of Azerbaijan’s Rabitabank OJSC increased by 25.4 percent in 1Q2022 compared to same period last year, Trend reports citing bank's balance sheet.
According to bank’s report, bank’s total assets increased by 182.8 million manat ($107.5 million) over the year - up to 902.7 million manat ($531 million).
Largest share (55.7 percent) in their structure accounted for loan portfolio, which grew by 13.9 percent over the year to 502.9 million manat ($295.8 million). Deduction of targeted reserves from bank's portfolio to ensure possible losses amounted to 32.4 million manat ($19.05 million).
According to results of 1Q2022, about 25.8 percent of Rabitabank’s total assets were cash and cash equivalents, which increased by 143.2 percent over the year to 232.9 million manat ($137 million).
Another 15.05 percent of bank's assets were investments in securities - 135.8 million manat ($79.8 million, increase of 28.2 percent over the year).
Unused real estate in the structure of Rabitabank’s long-term assets amounted to 13.6 million manat ($8 million) and this figure decreased by 28.7 percent over the year.
Bank’s other assets amounted to 35.05 million manat ($20.6 million) in 1Q2022 (an increase of 50.9 percent over the year).