BAKU, Azerbaijan, Feb. 16
By Zeyni Jafarov - Trend:
As of four quarters of 2020, Azerbaijan's Bank Avrasiya’s total assets decreased by 6.3 percent compared to the same period of 2019, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets decreased by 10.7 million manat ($6.3 million) for the year, reaching 159.7 million manat ($93.9 million).
In the structure of assets, the biggest share (70.5 percent) accounted for the loan portfolio in the amount of 112.6 million manat ($66.2 million), which increased by 3.1 percent in annual terms.
Most of the loan portfolio of Bank Avrasiya (56.8 percent) accounted for business loans in the amount of 64.02 million manat ($37.6 million), which increased by 1.4 percent.
Over 36.5 percent accounted for the real estate loans in the amount of 41.1 million manat ($24.2 million), which decreased by 3.6 percent on an annualized basis.
About 6.7 percent of the loan portfolio accounted for consumer loans in the amount of 7.5 million manat that’s $4.4 million (an increase of 2.1 times).
The deduction of target reserves to ensure possible losses amounted to 14.6 million manat ($8.6 million), increasing by 22.1 percent compared to 2019.
Cash and cash equivalents account for 19.9 percent of total assets. The volume decreased for the year by 1.7 percent up to 31.8 million manat ($18.7 million).
Investments in securities amounted to 13.6 million manat ($8 million), which is equivalent to about 8.5 percent of total assets.
The deposits in banks and other financial institutions amounted to 2.9 million manat that’s $1.7 million (a decrease of 11.2 percent for the year) while loans issued to the banks and financial institutions - 4.6 million manat that’s $2.7 million (an increase of 4.6 times for the year).
In the structure of long-term assets, intangible assets amounted to 304,600 manat ($179,176) compared to 255,950 manat ($150,558) in 2019. Other assets of Bank Avrasiya reached 2.9 million manat ($1.7 million) in 2020.
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