BAKU, Azerbaijan, Feb. 4
By Zeyni Jafarov - Trend:
As of four quarters of 2020, Azerbaijan’s Express Bank’s total assets decreased by 7.4 percent compared to the same period of 2019, Trend reports on Feb. 4, citing the bank's balance sheet.
In accordance with the report, total assets decreased by 25.2 million manat ($14.8 million) for the year up to 313.4 million manat ($184.3 million).
In the structure of assets, the biggest share (66.9 percent) accounted for the loan portfolio in the amount of 209.7 million manat ($123.3 million), which decreased by 6.3 percent.
In the structure of the loan portfolio, 54.4 percent accounted for consumer loans in the amount of 114.02 million manat which’s $67.07 million (decline by 17 percent).
About 31.2 percent accounted for business loans in the amount of 65.5 million manat which’s $38.5 million (an increase of 12 percent). Some 14.4 percent accounted for mortgage loans in the amount of 30.2 million manat which’s $17.8 million (an increase of 8.6 percent for the year).
The deduction of target reserves from the portfolio to ensure possible losses amounted to 15.3 million manat ($9 million), an increase of 21.2 percent on an annualized basis.
Investments in securities account for about 14.7 percent of total assets. The volume is estimated at 45.9 million manat ($27 million), practically unchanged in annual terms.
Cash and cash equivalents account for over 9.5 percent of total assets. The volume decreased in annual circulation by 12.1 percent to 29.9 million manat ($17.6 million).
The volume of deposits in other banks and financial institutions decreased by three times, amounting to 5.8 million manat ($3.4 million).
During the reporting year, Express Bank issued loans to banks and other financial institutions in the amount of 9.8 million manat ($5.8 million), which is by 32.7 percent more on an annualized basis.
In the structure of long-term assets, unused real estate amounted to 8.6 million manat ($352,941).
Intangible assets decreased by 224,000 manat ($131,764), amounting to 3.2 million manat ($1.9 million).
As of 2020, other assets of the bank reached 15.8 million manat ($9.3 million), increasing by 7.8 percent compared to 2019.
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