BAKU, Azerbaijan, April 24
By Eldar Janashvili - Trend:
As of the end of the first quarter of 2020, Azerbaijani AccessBank’s total assets decreased by 0.3 percent compared to the same period of 2019, Trend reports referring to the bank’s balance sheet on April 24.
According to the report, total assets decreased for the year by 2.5 million manat ($1.5 million) to 895.3 million manat ($526.6 million). The biggest share in the structure of assets (67.5 percent) accounted for the loan portfolio in the amount of 604.05 million manat ($355.3 million), which decreased by 1.1 percent.
Most of the bank’s loan portfolio (88.8 percent) accounted for business loans in the amount of 536.5 million manat that’s $315.6 million (a decrease of 1.4 percent), and 10.2 percent accounted for consumer loans in the amount of 61.7 million manat that’s $36.3 million (a two percent increase).
One percent of the loan portfolio accounted for mortgage loans in the amount of 5.8 million manat that’s $3.4 million (a decrease of 9.1 percent). The deduction of target reserves from the portfolio to ensure possible losses amounted to 71.6 million manat ($42.1 million), decreasing by 3.9 percent compared to late March 2019.
Nearly 13 percent of assets accounted for deposits in the banks in the amount of 115.4 million manat that’s $67.9 million (a decrease of 9.2 percent), while 11.8 percent of total assets accounted for cash and cash equivalents. The volume decreased by 17.2 percent up to 105.2 million manat ($61.9 million).
At the same time, investments made in securities decreased by 20 times up to 1.7 million manat ($1 million).
Unused real estate amounted to 63.7 million manat ($37.5 million) in the structure of long-term assets, an increase of less than two percent year-on-year.
Intangible assets decreased by 2.5 percent, amounting to 39.2 million manat ($23.05 million). Other assets amounted to 37.7 million manat ($22.2 million).
The bank’s total liabilities decreased by 0.6 percent in the first quarter of 2020, reducing by 4.9 million manat ($2.9 million) up to 798.6 million manat ($469.8 million).
A big share in the structure of liabilities (73.7 percent) accounted for deposits, which decreased by 11 percent and amounted to 588.3 million manat ($346.05 million).
At the same time, deposits of individuals accounted for more than 84.6 percent, having decreased by 10.2 percent up to 497.6 million manat ($292.7 million).
The deposits of legal entities accounted for less than 15.4 percent - 90.7 million manat ($53.3 million) in the first quarter of 2020, while a decrease compared to the first quarter of 2019 amounted to 14.9 percent.
The liabilities to the Central Bank of Azerbaijan (CBA), credit organizations and other financial institutions for the year increased by 73.8 percent and amounted to 175.5 million manat ($103.2 million).
Other liabilities amounted to 12.8 million manat that’s $7.5 million (a 3.5-percent decrease).
According to the report, the bank’s share capital remained unchanged on an annualized basis and amounted to 258.7 million manat ($152.2 million). The uncovered loss amounted to 169 million manat ($99.4 million). The capital reserves amounted to 6.9 million manat that’s $4.05 million (a 1.5 percent decrease).
The total capital amounted to 96.7 billion manat ($56.9 billion), an increase of 2.5 percent.
(1 USD = 1.7 AZN on April 24)
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