Baku, Azerbaijan, July 25
By Kheyraddin Nasirzade - Trend:
The total assets of Azerbaijan’s AGBank decreased by 3.3 percent at the end of the second quarter of this year, compared to the same period last year, Trend reports referring to the bank’s financial report.
The bank’s total assets amounted to 471.62 milllion manats at the end of June, which is by 16.17 million manats less than in the first half of last year.
The main share in the structure of assets accounts for the loan portfolio (49.5 percent), the volume of which, after deducting target reserves in the amount of 33.96 million manats, amounted to 199.63 million manats (a 10.5-percent decrease over the year).
Fixed assets in the form of equipment, movable and immovable property decreased by almost 5 percent, reaching 94.48 million manats. The volume of loans issued to other financial institutions amounted to 11.55 million manats.
Over the year, the bank increased the volume of mortgage real estate by 66 percent to 22.32 million manats, while also reducing deposits in other banks and financial institutions to 4.17 million manats in a year.
The balances on correspondent and “nostro” accounts of the CBA and other banks significantly decreased by 34 percent to 20.87 million manats. The volume of cash and cash equivalents increased by 41.3 percent to 22.34 million manats.
As noted in the report, the total liabilities for the first half year decreased by 5.4 percent, amounting to 420.36 million manats. In the structure of liabilities, the volume of customer deposits increased by 1.8 percent to 222.83 million manats. In particular, the volume of demand deposits of natural persons increased by 45.8 percent to 92.15 million manats, and that of legal entities by 34.5 percent to 71.45 million manats.
Meanwhile, time deposits of natural persons and legal entities decreased by 42.2 percent, reaching 59.21 million manats. Obligations to the CBA decreased by 7.1 million manats to 32.9 million manats. Balances on loro accounts almost doubled, to 10.35 million manats.
The volume of deposits of other banks and financial institutions decreased by almost 8 times to 1.38 million manats. The volume of loans taken from other banks and financial institutions decreased by almost 17 percent, reaching 88.22 million manats.
The bank's own capital over the reporting period increased by 18.7 percent to 51.25 million manats. Share capital amounted to 103.8 million manats, and uncovered loss to 62.70 million manats. Capital reserves decreased by 37.2 percent to 3.30 million manats.
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