BAKU, Azerbaijan, May 4
By Eldar Janahsvili – Trend:
The total liabilities of Azerbaijan's Xalq Bank decreased by 3.6 percent as of April 1, 2020, compared to April 1 of the previous year, Trend reports referring to the bank’s balance sheet.
According to the report, total liabilities decreased to 1.8 billion manat ($1.09 million), of which 65.5 percent fell to foreign currency in the amount of 1.2 billion manat ($720 million).
A great part (83.3 percent) in the structure of liabilities accounts for deposits, the volume of which increased by 7.6 percent to make up 1.5 billion manat ($910 million).
At the same time, 73.4 percent of deposits fell to foreign currency, the share of which increased by 227 million manat ($133.5 million) up to 1.1 million manat ($650,000).
Deposits in national currency accounted for 26.6 percent of the deposit portfolio - 412.3 million manat ($242.5 million), and a decrease compared to the first quarter of 2019 amounted to 22.2 percent.
The liabilities to the Central Bank of Azerbaijan, state funds, credit and financial organizations, 98.7 percent of which consist of foreign currency, amounted to nearly 51.7 million manat ($30.4 million), decreasing by over 4 times on an annualized basis. Other liabilities amounted to 24.4 million manat ($1.2 billion), uprising by 12.7 percent. Slightly less than one third (32.8 percent) of them fell to foreign currency in the amount of 8 million manat ($4.7 million).
The bank's equity for the year increased by 52.5 percent and amounted to 402.7 million manat ($236.8 million). The total reserves amounted to 18.5 million manat ($10.8 million), which is an increase of 2.1 times, the report said.
The bank’s total capital amounted to 421.2 million manat ($247.7 million) as of April 1, 2020, which is 10.5 percent more compared to April 1, 2019.
Xalq Bank has been operating in Azerbaijan since 2004.
(1 USD = 1.7 AZN on May 4)
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