Baku, Azerbaijan, Aug. 28
By Eldar Janashvili – Trend:
The total assets of the Azerbaijani investment company AzFinance Invest amounted to 66.87 million manats in the balance sheet for 2018, Trend reports referring to the organization’s audit report.
The organization’s assets grew by 36.9 percent compared to the previous year. A significant part of the assets (88 percent) was comprised of investments in debt securities at 58.908 million manats (an increase of 34.8 percent over the year). The company's investment in equity securities decreased by 5.5 times and amounted to 559,300 manats. The volume of cash and cash equivalents amounted to 192,000 manats, having decreased by 6.6 times.
At the same time, cash on the trading account increased by more than 13 times and amounted to 5.708 million manats. Customer debt amounted to about one million manats. The receivables of AzFinance Invest for the year decreased by 26.6 percent and amounted to 264,400 manats.
The total volume of obligations on an annualized basis increased by 37.2 percent and amounted to 65.217 million manats. Moreover, almost the entire volume of liabilities (99.5 percent) was comprised of debt obligations to customers in the amount of 64.872 million manats. Their volume relative to the results of 2017 increased by 36.9 percent. The accounts payable for the year almost doubled and amounted to 305.133 manats.
Total capital increased by 24.8 percent and amounted to 1.653 million manats, mainly due to a reduction in the organization’s uncovered loss by 39.2 percent to 510,200 manats.
Follow the author on Twitter: @eldarjanashvili
