BAKU, Azerbaijan, July 21. The total assets of Azerbaijan’s Bank of Baku grew in the second quarter of 2022, Trend reports citing the bank's balance sheet.
According to the balance sheet, this figure amounted to 579.8 million manat ($341 million), up by 113.2 million manat ($66.6 million) or 24.1 percent on annual basis.
The largest share (83.61 percent) of the total amount was the loan portfolio, which increased by 24.34 percent over the year - up to 484.8 million manat ($285.1 million).
The deduction of targeted reserves from the bank's portfolio to ensure possible losses settled at 70.2 million manat ($41.3 million).
According to the results of 2Q2022, about 13 percent of the total assets of the Bank of Baku were cash and cash equivalents, which amounted to 75.3 million manat ($44.3 million).
Another 4.56 percent of the bank's assets were investments in securities – 26.4 million manat ($15.5 million).
Other assets of the bank in 2Q2022 amounted to 17.8 million manat ($10.4 million) (an increase of 17.02 percent on annual basis).