BAKU, Azerbaijan, April 26. Total assets of Azerbaijan’s Bank Respublika increased from January through March 2022, Trend reports citing the bank's balance sheet.
According to the balance sheet, this figure exceeded 1.2 billion manat ($710 million), up by 135.4 million manat ($79.6 million) or 12.18 percent on annual basis.
The largest share (61.13 percent) in their structure accounted for loan portfolio, which grew by 57.41 percent over the year to 762.4 million manat ($448.4 million).
Targeted reserves worth over 9.4 million manat ($5.5 million) were deduced from the bank's portfolio to ensure possible losses in the first quarter of this year.
Meanwhile, about 11.32 percent of Bank Respublika’s total assets were cash and cash equivalents, which increased by 40.73 percent over the year to 245.7 million manat ($144.5 million).
Another 2.89 percent of the bank's assets were investments in securities - 35.9 million manat ($21.1 million).
Unused real estate in the structure of Bank Respublika’s long-term assets amounted to 45.3 million manat ($26.6 million) and this figure grew by 10.88 percent over the year.
Intangible assets of the bank rose by 1.06 percent on annual basis, amounting to nearly 1.4 million manat ($820,000).
The bank’s other assets amounted to 34.8 million manat ($20.4 million) in 1Q2022.