BAKU, Azerbaijan, July 27. The total assets of the International Bank of Azerbaijan (Bank ABB) increased by 36.4 percent in the second quarter of 2022 compared to the same period last year, Trend reports citing bank's balance sheet.
According to bank, its total assets increased by 3.2 billion manat ($1.8 billion) over the year - up to 12.08 billion manat ($7.1 billion).
The largest share (35.2 percent) in the structure of total assets was made up of cash and their equivalents, which increased by 2.02 times over the year - up to 4.2 billion manat ($2.4 billion).
According to the results of the second quarter of 2022, about 28.4 percent of bank’s total assets accounted for the loan portfolio, which grew by 27.4 percent over the year to 3.44 billion manat ($2 billion).
Deduction of targeted reserves from bank's portfolio to ensure possible losses amounted to 265.1 million manat ($155.9 million).
Another 11.6 percent of bank's assets were investments in securities - 1.4 billion manat ($823.5 million).
Unused real estate, in the structure of bank’s long-term assets, amounted to 183.08 million manat ($107.6 million), intangible assets - 15.8 million manat ($9.2 million).
Other assets of bank amounted to 332.1 million manat ($195.3 million) in the second quarter of 2022.