Baku, Azerbaijan, Oct. 16
By Eldar Janashvili - Trend:
Following the results of the third quarter of 2019, total assets of the International Bank of Azerbaijan (IBA) increased by 17.5 percent compared to the beginning of 2019, Trend reports with reference to the bank’s balance sheet.
The bank’s total assets increased by 1.389 billion manat ($818.732 milion), up to 9.321 billion manat ($5.494 billion). The biggest share (34 percent) in the structure of assets is held by accounts receivable worth 3.179 billion manat ($1.873 billion), which is 6.8 percent less than in the beginning of 2019.
A little more than a quarter of the total assets’ volume accounts for cash and cash equivalents, including blocked amounts. Their volume grew by 69.6 percent, up to 2.453 billion manat ($1.445 billion). The specific weight of the loan portfolio, the volume of which grew by 16.8 percent, up to 1.923 billion manat ($1.133 billion), amounted to slightly less than a quarter.
The deduction of target reserves to ensure possible losses amounted to 252.308 million manat ($148.723 million), increasing by 3.8 percent compared to the beginning of this year.
Real estate and equipment in the structure of long-term assets amounted to 156.914 million manat ($92.492 million), having decreased by 4.3 percent from January to September 2019. Intangible assets amounted to 15.033 million manat ($8.861 million), a decrease of 8.7 percent.
($1= 1.7 manat on Oct. 16)