BAKU, Azerbaijan, April 27
By Zeyni Jafarov - Trend:
The total assets of the Baku branch of the National Bank of Pakistan decreased by 22.1 percent in the first quarter of 2021 compared to the same period of 2020, Trend reports citing the bank's balance sheet.
In accordance with the report, total assets decreased by 2.9 million manat ($1.7 million) for the year up to 10.1 million manat ($5.9 million).
The biggest share (58.7 percent) accounted for investments in securities in the amount of 5.9 million manat ($3.5 million) in the structure of assets, which decreased by 6.9 percent compared to the same period of last year.
The bank's loan portfolio accounted for 8.6 percent of total assets and was estimated at 869,000 manat $511,176 (decline by 2.7 percent).
The correspondent account in the Central Bank of Azerbaijan accounted for 11.4 percent of assets in the amount of 1.1 million manat ($647,058), showing decrease by 67 percent (annualized rate).
Cash and cash equivalents account for 1.8 percent of total assets. The volume decreased by 358,400 manat ($210,823) up to 179,000 manat ($105,294).
The intangible assets are estimated at 12,070 manat ($7,100) in the structure of long-term assets for the entire first quarter of 2021 compared to 13,890 manat ($8,170) in the first quarter of 2020 (decline of 13.1 percent). Other assets of the Baku branch of the National Bank of Pakistan amounted to 1.4 million manat ($823,529).
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