BAKU, Azerbaijan, July 26. The total assets of Azerbaijan's Rabitabank OJSC increased by 30.94 percent in the second quarter of 2022 compared to the same period of 2021, Trend reports referring to the bank's balance sheet.
According to the sheet report, the bank's total assets made up 965.239 million manat ($568.6 million), up by 228.08 million manat ($134.36 million) year-on-year. Out of gross assets, 57.64 percent fell on the loan portfolio, growing by 26.29 percent on an annual basis and reaching 556.448 million manat ($327.8 million).
Targeted reserve deductions to ensure possible losses amounted to 35.518 million manat ($20.9 million).
Following the results of the second quarter of 2022, 25.8 percent of the bank's assets fell on cash and cash equivalents, totaling 248.398 million manat ($146.3 million).
Meanwhile, investments in securities (102.7 million manat, or $60.5 million) accounted for nearly 10.4 percent of Rabitabank OJSC's total assets.
Other assets of the bank amounted to 47.324 million manat ($27.8 million) in the reporting period.