BAKU, Azerbaijan, Apr.15
By Zeyni Jafarov - Trend:
Azerbaijan Industry Bank’s (ASB) total assets in the first quarter of 2021 decreased by 2 percent compared to 1Q2020, Trend reports referring to financial report of the bank.
Total assets amounted to 889.3 million manat ($523.1 million) as of late March 2020, which is by 18.05 million manat ($10.6 million) less over the year.
In the structure of assets, the main share accounts for the deposits in banks and other financial institutions (55.6 percent), the volume of which grew by 10.3 percent, amounting to 494.6 million manat ($290.9 million).
Some 28 percent in the structure of assets accounted for the loan portfolio in the amount of 249 million manat ($146.4 million), which decreased by 21.9 percent.
The deduction of target reserves from the portfolio to ensure possible losses amounted to 6.05 million manat ($3.56 million), almost unchanged on an annual basis.
More than 8.5 percent of assets accounted for nostro accounts in the amount of 75.5 million manat ($44.4 million), which increased by 1.1 times for the year. Correspondent accounts in the Central Bank of Azerbaijan were estimated at 39.76 million manat ($23.4 million), which is by 17.4 percent more than in 1Q2021.
Cash and cash equivalents accounted for more than 1.9 percent of total assets. The volume rose by 16.2 percent up to 16.88 million manat ($9.9 million) per annum.
In the structure of long-term assets, intangible assets decreased by 7.7 percent, amounting to 2.46 million manat ($1.45 million). Other assets of the bank as of 1Q2021 were estimated at 10.76 million manat ($6.33 million).
(1 USD = 1.7 AZN on Apr.15)
---
Follow the author on Twitter: @jafarov_zeyni
