BAKU, Azerbaijan, July 20. The total assets of Azerbaijan’s Nakhchivanbank grew in the second quarter of 2022, Trend reports citing the bank's balance sheet.
According to the balance sheet, this figure amounted to 343.6 million manat ($202.1 million), up by 67.5 million manat ($39.7 million) or 24.1 percent on annual basis.
The largest share (47.8 percent) of the total amount was the loan portfolio, which increased by 31.56 percent over the year - up to 164.5 million manat ($96.7 million).
The deduction of targeted reserves from the bank's portfolio to ensure possible losses amounted to 6.3 million manat ($3.7 million).
According to the results of 2Q2022, about 19.64 percent of the total assets of Nakhchivanbank were investments in securities, which grew by 3.87 times over the year to 67.4 million manat ($39.6 million).
Another 10.16 percent of the bank's assets were cash and cash equivalents – 34.9 million manat ($20.5 million) (an increase of 36.47 percent over the year).
Other assets of the bank in 2Q2022 amounted to 4.08 million manat ($2.4 million) (an increase of 3.58 times on annual basis).