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Azerbaijani bank's assets exceeds $166 million

Business Materials 26 February 2012 12:22 (UTC +04:00)

Azerbaijan, Baku, Feb.25 /Trend A.Akhundov/

The volume of loans and advances of Azerbaijani Rabitabank to the financial sector amounted to 9.271 million manat for January 1, 2012. The volume of loans and advances to customers of the bank is amounted to 89.122 million manat.

It is stated in the balance sheet of the company for 2011, published on Saturday.
Total assets amounted to 131.229 million manat for the end of 2011, 3.445 million manat of which accounts for the cash, 7.281 million manat - investments in securities, 8.735 million manat - interest-bearing liabilities, 6.873 million manat - fixed assets, intangible 0.109 million manat -assets, and 2.059 million manat - other assets.

On correspondent accounts and funds of required reserves, established in accordance with the requirements of the Central Bank of Azerbaijan (CBA), are 2.336 manat and 1.998 million manat, respectively.
Total liabilities of banks amounted to 114.02 million manat for the beginning of 2012, 76.884 million manat of which accounts for the customer deposits, 22.834 million manat - liabilities to the financial sector, 10 million manat - the requirements of the CBA Bank, 3.549 million manat -interest-bearing liabilities, 0.753 million manat - other liabilities.

Some 61.874 million manat accounted for the structure of deposits in the immediate and 15 million manat - demand deposits.

Shareholders' equity amounted to 13.471 million manat, general reserves - 5.708 million manat, total capital was at 17.209 million manat at the end of 2011.

Net interest income of the bank amounted to 3.685 million manat, net operating expenditure - 4.873 billion manat, and other net revenues - four thousand manat in 2011. The bank ended the year with a loss of 1.465 million manat.

Off-balance sheet liabilities of the bank amounted to 9.361 million manat at the end of 2011, 3.138 million manat of which accounts for the guarantees and similar commitments, 4.651 million manat - credit instruments, 1.572 million manat - forward and futures contract.

Rabitabank is a commercial bank that has operated in Azerbaijan since 1993. It has become the fourth bank in Azerbaijan, in which the IFC has acquired a stake.
Rabitabank has cooperated with the IFC and the EBRD since 1999. The controlling stake in the bank (86.1 percent) belongs to Supervisory Board Chairman Zakir Nuriyev.

Official exchange rate on Feb.26 is 07863 AZN/USD

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