BAKU, Azerbaijan, May 11
By Eldar Janashvili - Trend:
As of the first quarter of 2020, Azerbaijan’s AFB Bank increased its total assets compared to the same indicator at the end of 2019 by 0.5 percent, Trend reports referring to the bank's balance sheet.
In accordance with the report, total assets have increased by 2.7 million manat ($1.6 million) since the beginning of the year up to 577.6 million manat ($339.8 million). The biggest share (76 percent) in the structure of assets accounted for the loan portfolio in the amount of 439.1 million manat ($258.3 million), an increase of 20 percent.
Most of the bank's loan portfolio (81.8 percent) accounted for business loans in the amount of 359 million manat that’s $211 million (an increase of 23.3 percent). About 9.1 percent accounted for mortgage loans in the amount of 39.7 million manat that’s $23.3 million (an increase of 18.1 percent).
Slightly more than nine percent of the loan portfolio accounted for mortgage loans in the amount of 40.3 million manat that’s $23.7 million (a decrease of 1.5 percent). The deduction of target reserves from the portfolio to ensure possible losses amounted to 43.9 million manat ($25.8 million), increasing by 0.6 percent compared to late December 2019.
Over 11 percent of assets accounted for cash and cash equivalents in the amount of 64.7 million manat that’s $38.05 million (a decrease of 14.1 percent). Some 7.1 percent of total assets accounted for bank deposits. The volume grew by 12 times up to 40.8 million manat ($24 million).
The investments in securities decreased by 4.7 times up to 27 million manat ($15.9 million).
The unused real estate amounted to 30.9 million manat ($18.2 million) in the structure of long-term assets, decreasing by 1.2 percent within three months. Intangible assets remained almost unchanged and amounted to 1.3 million manat ($764,705). Other assets amounted to 17.5 million manat ($10.3 million).
(1 USD = 1.7 AZN on May 11)
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