BAKU, Azerbaijan, July 29
By Eldar Janashvili – Trend:
As of the end of the first quarter of 2020, the total assets of the Azerbaijani Yapi Kredi Bank decreased by 17.15 percent since the beginning of the year, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets decreased by 73.5 million manat ($43.2 million) to 355.1 billion manat ($208.9 billion).
About half of all assets of the bank account for cash and cash equivalents, including the blocked funds worth 176.5 million manat that’s $103.8 million (a decrease by 13.8 percent since the beginning of the year).
A big share in the structure of assets, about 44.8 percent, accounted for the loans issued to the clients and financial institutions, the volume of which has decreased since the beginning of the year by 14.8 percent up to 159.4 million manat ($93.8 million).
At the same time, almost 66 percent of the entire loan portfolio accounted for the business loans, the total amount of which decreased by 19.1 percent up to 105.2 million manat ($61.9 million).
Some 43.2 million manat ($25.4 million) accounted for consumer loans, the share of which increased by 1.8 percentage points since the beginning of the year up to 27.1 percent while the volume decreased by 8.9 percent.
The loans for real estate amounted to 11.1 million manat that’s $6.5 million (an increase of 12.6 percent), or about seven percent of the entire loan portfolio.
The new loans were not issued to the banks and financial institutions for 2020 and the zero indicator at the end of 2019 remained in the financial report for the first half of the year.
The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to slightly more than 44.2 million manat ($26 million), almost unchanged compared to last year.
The deposits in banks and other financial institutions amounted to 8.7 million manat ($5.1 million), which is twofold less than in 2019.
In the structure of long-term assets, real estate and equipment greatly increased by 35.2 percent up to 4.05 million manat ($2.4 million).
Intangible assets decreased by 3.2 percent, amounting to 1.07 million manat ($629,411). Other assets amounted to almost 59 million manat ($34.7 million).
(1 USD = 1.7 AZN on July 29)
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