Baku, Azerbaijan, Aug. 4
By Anvar Mammadov – Trend:
Azerbaijan’s Bank of Baku OJSC attracted additional 20 million Azerbaijani manats from the country’s Central Bank (CBA) in 2Q2016, bringing its liabilities up to 60 million manats to the CBA, said the bank’s balance sheet on the results of 2Q2016 posted on its website.
The bank’s liabilities to the CBA increased by threefold during the reporting period compared to 2Q2015.
In total, Bank of Baku’s liabilities decreased by almost 21 percent and amounted to 522.65 million manats during the period. A major part (58.6 percent or 306.09 million manats) in the bank’s structure accounted for population’s deposits that decreased by 30.2 percent during the year.
Assets of Bank of Baku decreased by 24.4 percent in 2Q2016 compared to the same period of 2015 and totaled 587.39 million manats.
Main part of the bank’s assets accounted for loans and leasing, issued for clients, which decreased from 540.72 million manats to 327.09 million manats during the year. Nostro accounts increased by 5.7 percent during the year and amounted to 172.3 million manats.
The bank’s authorized capital has remained unchanged – at the level of 52.87 million manats. Aggregate capital of the bank decreased by 43.8 percent and totaled 64.73 million manats, including 198,740 manats of undistributed loss.
The bank operates since Feb. 14, 1994 under the name commercial bank “Tugay.” On Feb. 10, 1997, it was renamed as commercial bank “Bank of Baku.”