BAKU, Azerbaijan, Oct. 20
By Zeyni Jafarov - Trend:
The assets of Azerbaijan's Express Bank decreased by 10.1 percent in the third quarter of 2020, Trend reports citing the bank's balance sheet report.
According to the report, the total assets of the bank decreased by 34.2 million manat ($20.1 million) over the year, amounting to 304.4 million manat ($179 million). In the structure of assets, the largest share (72.6 percent) belongs to the loan portfolio in the amount of 221.1 million manat ($130 million), decreasing by 1.2 percent.
At the same time, consumer loans amounted to 127 million manat ($74.7 million), decreasing by 7.6 percent, business loans - 64 million manat ($37.6 million), showing an increase of 9.5 percent.
The report said that less than 10 percent of the loan portfolio fell on mortgage loans, the value of which made up 30 million manat ($17.6 million).
In the structure of assets, cash and cash equivalents accounted for 8.2 percent or 25.3 million manat ($14.8 million), a decline of more than 1.3 times. Some 3.4 percent or 10.4 million manat ($6.1 million) of the total assets are loans to other banks and other financial institutions.
Deposits of banks and other financial institutions amounted to 1.57 million manat ($0.9 million), and investments in securities - 35.7 million manat ($21 million).
(1 USD = 1.7 manat on Oct. 20)
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