BAKU, Azerbaijan, May 7
By Eldar Janashvili - Trend:
Azerbaijan’s Expressbank increased its total assets by 3.7 percent compared to the same period of 2019 as of the end of the first quarter of 2020, Trend reports referring to the bank's balance sheet.
In accordance with the report, total assets increased for the year by 12.6 million manat ($7.4 million), up to 351.3 million manat ($206.6 million). The biggest share (66.1 percent) in the structure of assets accounts for the loan portfolio in the amount of 232.2 million manat ($136.6 million), increasing by 3.8 percent.
Slightly more than half of the bank's loan portfolio (60.1 percent) accounted for consumer loans worth 141 million manat that’s $82 million (an increase of 2.6 percent). About 27.1 percent accounted for business loans in the amount of 62.8 million manat that’s $36.9 million (an increase of 7.4 percent).
Slightly less than 12.2 percent of the loan portfolio accounted for mortgage loans in the amount of 28.4 million manat that’s $16.7 million (a decrease of 1.9 percent). The deduction of target reserves from the portfolio to ensure the possible losses amounted to 12.7 million manat ($7.5 million), increasing by 0.6 percent compared to late March 2019.
Over 12 percent of assets accounted for cash and cash equivalents in the amount of 42.9 million manat that’s $25.2 million (an increase of 26 percent). Some 3.1 percent of total assets accounted for the loans to other banks and other financial institutions. The volume grew by 48.8 percent, up to 11 million manat ($6.5 million).
The deposits of banks and other financial institutions, in turn, decreased by 2.7 times and amounted to 5.7 million manat ($3.3 million).
The investments in securities decreased by 1.7 times to 27.6 million manat ($16.2 million).
Unused real estate amounted to 9.1 million manat ($5.3 million) in the structure of long-term assets, decreasing by 6.8 percent per annum. Intangible assets decreased by 4.6 percent, amounting to 3.2 million manat ($1.9 million). Other assets amounted to 32.4 million manat ($19.05).
(1 USD = 1.7 AZN on May 7)
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