Baku, Azerbaijan, July 26
By Eldar Janashvili - Trend:
The total assets of Azerbaijan’s Nikoil Bank at the end of the second quarter of this year decreased by 4 percent compared to the same period last year, Trend reports with reference to the financial report of the bank.
The bank’s total assets at the end of June amounted to 429 million manats, which is 17.4 million manats less than last year’s figure (growth by 6.2 percent).
The main share (51.5 percent) in the structure of assets accounts for the loan portfolio, which, after deducting target reserves of 42.216 million manats, amounted to 221 million manats. The share of short-term financial instruments in the interbank market exceeded 11 percent of total assets and amounted to 49.3 million manats.
The volume of cash and cash equivalents increased by 6.6 percent to 11.63 million manats. Correspondent accounts decreased by 60.7 percent and amounted to 22.38 million manats. “Nostro” accounts amounted to 3.15 million manats (an increase of 41.4 percent). The volume of securities decreased by more than twice and amounted to 17.54 million manats. Loans to banks and other financial institutions decreased by 43 percent reaching 13.94 million manats.
During the first six months of this year, the bank’s liabilities also decreased. The bank’s total liabilities as of July 1 this year amounted to 359.9 million manats (a decline of 8.3 percent).
In the structure of liabilities, the main share accounted for customer deposits (71.3 percent), which amounted to 256.7 million manats, remaining almost unchanged compared to the figure for the same period last year. Deposits of financial institutions increased by 11.4 percent and amounted to 68.7 million manats. Deposits of banks amounted to 13.2 million manats, which exceeds last year’s figures by over three times. The amount of securities issued by the bank decreased by two thirds and amounted to 8.5 million manats. “Loro” accounts amounted to 3,680 manats.
The bank’s own capital increased by 33 percent over the reporting period, reaching 66.16 million manats. Capital reserves decreased by 30 percent to 2.9 million manats. The total capital increased by 28 percent to 69.1 million manats.
($1= 1.7 manats on July 26)
