BAKU, Azerbaijan, Feb. 1
By Zeyni Jafarov - Trend:
As of the four quarters of 2020, VTB Bank Azerbaijan increased total liabilities by 27.15 percent compared to late 2019, Trend reports on Feb. 1 citing the bank's balance sheet.
In accordance with the report, total liabilities increased by 26.3 million manat ($15.5 million), reaching 123.4 million manat ($725.9 million).
A big share (61 percent) accounts for deposits in the structure of liabilities, which increased by 27.7 percent and amounted to 75.3 million manat ($44.3 million).
At the same time, about 48 percent accounted for deposits of legal entities in the amount of 36.1 million manat which’s $21.2 million (an increase of 51.2 percent for the year). The deposits of individuals accounted for 52 percent - 39.2 million manat ($5.4 million) while the growth was 11.7 percent compared to 2019.
The liabilities to the credit organizations and other financial institutions decreased by 10.9 percent for the year and amounted to 10.8 million manat ($6.3 million).
The Central Bank of Azerbaijan’s claims amounted to 31.5 million manat ($18.5 million), an increase of 44.4 percent on an annualized basis. Other liabilities amounted to 5.8 million manat that’s $3.4 million (an increase of 39.7 percent).
In accordance with the report, the bank's share capital on an annualized basis remained unchanged and amounted to 315.8 million manat ($185.8 million). Retained earnings are estimated at 252.9 million manat ($148.8 million), which is by 1.5 percent less than in 2019. Capital reserves amounted to 1.06 million manat that’s $623,529 (a decline of 17.7 percent).
The total capital amounted to 61.6 million manat ($36.2 million), increasing in annual circulation by 2.15 percent.
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