BAKU, Azerbaijan, July 30
By Eldar Janashvili – Trend:
The total assets of Azerbaijan's AFB Bank decreased by 0.23 percent in the first half of 2020, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets decreased by 1.3 million manat ($764,705) to 573.4 million manat ($337.3 million).
In the structure of assets, the biggest part, about 76.9 percent, accounted for the loans issued to the clients and financial structures, the volume of which has increased by 20 percent since the beginning of the year, up to 439 million manat ($258 million).
At the same time, 82.7 percent of the total loan portfolio accounted for business loans, the total amount of which increased by 24.64 percent to 363.1 million manat ($213.6 million).
Some 36.8 million manat ($21.6 million) accounted for consumer loans, the share of which has decreased by 0.8 percentage points, up to 8.4 percent since the beginning of the year, while the volume - by 9.2 percent.
The loans issued for real estate amounted to 39.2 million manat that’s $23.06 million (a decrease of 4.2 percent), or about 8.9 percent of the entire loan portfolio.
The loans were not issued to the banks and financial institutions during the reporting period and the corresponding zero indicator in late 2019 remained in the financial report for the first half of the year.
The deduction of target reserves from the portfolio to ensure the possible losses from the loans amounted to 44.6 million manat ($26.2 million), increasing by 2.4 percent compared to last year.
The volume of the bank's cash increased by almost 1.5 times, reaching 112.8 million manat ($66.3 million). The deposits in banks and other financial institutions amounted to 1.8 million manat ($1.06 million), which is almost twofold less than in 2019.
In the structure of long-term assets, the share of real estate and equipment decreased slightly - by 2.4 percent up to 30.5 million manat ($17.9 million).
Intangible assets decreased by 2.6 percent, amounting to 1.3 million manat ($764,705). Other assets amounted to almost 16.7 million manat ($9.8 million).
(1 USD = 1.7 AZN on July 30)
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