Baku, Azerbaijan, May 2
By Kheyraddin Nasirzade - Trend:
The losses of Azerbaijan’s Muganbank in the 1Q2019 amounted to almost 13.3 million manats, which is 7.3 times more compared to the 1Q2018, Trend reports referring to a financial report of the bank.
In the revenue structure, 10.3 million manats accounted for interest income from loans, commission and non-interest income amounted to 3.3 million manats. The bank’s interest expenses amounted to almost 6.24 million manats, commission and non-interest expenses – 741,370 manats, staff maintenance amounted to almost 3.87 million manats, administrative and other expenses - 2.08 million manats.
Operating income amounted to 3.2 million manats.
The total assets of the bank in the first quarter this year amounted to 524.1 million manats, which exceeds the figure for the same period last year by 7.1 percent. In the asset structure, the bank’s cash increased by 55.4 percent, reaching 18.7 million manats. The balances on correspondent accounts in the Central Bank of Azerbaijan amounted to 15.7 million manats, which is twice less than in the first quarter last year.
Balances on nostro accounts increased by 16.8 percent, amounting to 19.2 million manats. The volume of the loan and leasing portfolio of the bank increased by 6.5 percent to 364.8 million manats. Investments in trading securities for the year remained unchanged, reaching 20.5 million manats. The bank’s fixed assets increased significantly by 69.8 percent, reaching 95.6 million manats. Other assets of the bank amounted to about 10 million manats, which is 17.8 percent more than last year.
The total liabilities of the bank also increased by 8.4 percent to 457.4 million manats. In the structure of liabilities, the volume of funds raised from banks and other financial institutions increased by 9.8 percent, reaching 203.6 million manats. The deposit portfolio increased by 7.9 percent and reached 246.9 million manats. The volume of issued debt securities fell by almost half to 1.2 million manats. Other liabilities of the bank amounted to 5.5 million manats.
The total capital of the bank amounted to 68.9 million manats, the share capital - 95 million manats. The leverage ratio is 5 percent.
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