BAKU, Azerbaijan, May 5
By Eldar Janashvili – Trend:
The total liabilities of Azerbaijan's Rabitabank OJSC dropped by 26.6 million manat ($15.6 million) to make up 612 million manat ($360 million) in the first quarter of 2020, which is 4.2 percent less compared to the same period of last year, Trend reports citing the bank’s balance sheet.
"In the structure of liabilities, the main share (75.7 percent) accounted for deposits, which decreased by 11 percent and amounted to 463.2 million manat ($272.4 million). Meanwhile, over half of them accounted for deposits of individuals, which grew by 2.5 percent up to 235 million manat ($138.2 million)," said the report.
Deposits of legal entities accounted for 49.3 percent of the deposit portfolio in the amount of 228.2 million manat ($134.2 million), and a decrease compared to the first quarter of 2019 amounted to 14.6 percent.
Liabilities to the central bank of Azerbaijan (CBA), credit organizations and other financial institutions increased by 31.8 percent for the year and amounted to 4.5 million manat ($2.6 million). Other liabilities amounted to 13.6 million manat ($8 million), decreasing by 3.5 percent.
"The bank’s share capital on an annualized basis did not change and amounted to 101.3 million manat ($59.5 million). The uncovered loss amounted to 11.5 million manat ($6.7 million), having soared by 63.4 percent for the year. Capital reserves amounted to 7.2 million manat ($4.2 million), a decrease of 2.2 percent," said the report.
Total capital of the bank amounted to 97 million manat ($57 million), a decrease of 4.3 percent.
Rabitabank was founded in 1993. Presently, it has 25 branches, including 10 branches in Baku.
(1 USD = 1.7 AZN on May 5)
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