BAKU, Azerbaijan, July 23
By Fidan Babayeva – Trend:
The total assets of Azerbaijan’s corporate bank Access Bank in the second quarter of 2020 showed uptick by 4.8 percent compared to the same period in 2019, Trend reports referring to the bank’s financial statement.
According to the statement, as of June 30, the total assets amounted to 851.2 million manat ($500.7 million), which is 39.6 million manat ($23.2 million) more than the previous indicator.
The largest part in the structure of assets accounted for loan portfolio, the volume of which slid by 0.2 percent, reaching 474.7 million manat ($279.2 million). At the same time, 97.4 percent of the loans were issued in manat.
In the first 6 months of 2020, AccessBank issued loans worth 158.4 million manat ($93.1 million). More than half of the monthly loans issued by the bank accounted for the regional branches, and more than 40 percent of all micro-loans were related to the agricultural sector.
The bank's deposit portfolio as of June 30,2020 amounted to 558.3 million manat ($328.4 million).
The bank's net interest incomes in 1H2020 amounted to 28.1 million manat ($16.5 million), an increase of 26.5 percent compared to the same period of last year.
Excluding extraordinary incomes, the bank's operating profit increased by 9.3 million manat ($5.4 million) compared to the first half of 2019, while net profit made up 1.5 billion manat ($880 million).
Currently, the bank's own funds are equal to 94.9 million manat ($55.8 million), and the total capital is 77.5 million manat ($45.5 million), exceeding the norm by 55 percent.
At the end of June, the bank's instant liquidity ratio was 63.6 percent, which is approximately 2.1 times higher than the norm.
(1USD = 1.7 AZN on July 23)
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