BAKU, Azerbaijan, Feb.15
By Zeyni Jafarov - Trend:
The Turkish Ziraat Bank’s subsidiary in Azerbaijan increased its total assets by 17.9 percent in 2020 compared to 2019, Trend reports on Feb.15 referring to the bank’s balance sheet.
According to the sheet, total assets rose by 45.5 million manat ($26.7 million) up to 298.9 million manat ($175.8 million) over the year.
The main share in the structure of assets (53 percent) accounted for the loan portfolio, the volume of which grew by 8.85 percent up to 158.3 million manat ($93.1 million) compared to 2019.
The deduction of target reserves from the portfolio to ensure possible losses amounted to 5.75 million manat ($3.38 million), an increase of 68.4 percent on an annualized basis.
The correspondent account in the Central Bank of Azerbaijan reached 31.9 million manat ($18.7 million), which is 2.1 times more than a year ago.
Over 17.5 percent of the total assets fell on Nostro accounts worth 52.4 million manat ($30.8 million), showing a rise by 36.9 percent over the year.
More than 1.4 percent of the total assets accounted for cash and its equivalents. Their volume decreased by 22.4 percent down to 4.12 million manat ($2.4 million).
The deposits at other banks and financial institutions made up 5.1 million manat ($3 million), decreasing by 42 percent. At the same time, the investments in securities grew by 2.6 times, up to 24.1 million manat ($14.1 million).
Other assets of Ziraat Bank in 2020 amounted to nearly over 5.3 million manat ($3.1 million).
(1 USD = 1.7 AZN on Feb.15)
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