BAKU, Azerbaijan, Feb. 1
By Eldar Janashvili – Trend:
Azerbaijan’s corporate bank AFB Bank increased its total liabilities by almost 1.5 times in 2019 compared to 2018, Trend reports referring to the bank’s balance sheet.
Total liabilities increased by 164.3 million manat ($96.6 million), amounting to 494.2 million manat ($290.7 million).
A significant part (about 76.8 percent) in the structure of liabilities accounted for deposits, the volume of which almost doubled, reaching 379.4 million manat. At the same time, the bulk of deposits (about 91 percent) accounted for accounts of legal entities, which equaled to 344.9 million manat ($202.8 million). Their increase amounted to 2.6 times. The volume of deposits of individuals amounted to slightly below 35 million manat ($20.5 million), slightly decreasing twice a year.
Liabilities to credit and financial organizations, the Central Bank (CBA) and state funds amounted to almost 109.7 million manat ($64.5 million), decreasing by 5.7 percent since the beginning of 2020. The amount of current tax liabilities and subordinated debt amounted to slightly above 22 million manat ($12.9 million). Other liabilities amounted to 5.1 million manat ($3 million).
The share capital has not changed since the beginning of this year and stood at 70.4 million manat ($41.4 million). Retained earnings of the bank amounted to 8.8 million manat ($5.1 million). Total reserves amounted to 1.2 million manat ($705,882), increasing by 9.1 percent.
The total capital of the bank in 2019 amounted to 80.4 million manat ($47.2 million) in 2019 compared to 87.5 million manat ($51.4 million) in 2018.
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