BAKU, Azerbaijan, July 13
By Zeyni Jafarov - Trend:
Azerbaijan Industry Bank’s (ASB) total assets decreased by 6.4 percent as of the late second quarter of the 2021 year on year, Trend reports referring to the financial report of the bank.
According to the report, as of late June, the total assets amounted to 864.68 million manat ($508.64 million), down by 59.3 million manat ($34.8 million) compared to the same period of 2020.
In the structure of assets, the main share accounts for the deposits in banks and other financial institutions (57.3 percent), the volume of which grew by 10.3 percent, amounting to 495.6 million manat ($291.5 million).
Some 29.6 percent in the structure of assets accounted for the loan portfolio in the amount of 256 million manat ($150.6 million), which decreased by 26.2 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 annual basis.
More than 8.1 percent of assets accounted for nostro accounts in the amount of 70.4 million manat ($41.4 million), which decreased by 0.3 percent for the year. Correspondent accounts in the Central Bank of Azerbaijan were estimated at 11.45 million manat ($6.74 million), which is 57.7 percent less than in 2Q2021.
Cash and cash equivalents accounted for more than 2 percent of total assets. The volume rose by 12.2 percent up to 17.54 million manat ($10.32 million) per annum.
In the structure of long-term assets, intangible assets decreased by 4.7 percent, exceeding 2.6 million manat ($1.5 million). Other assets of the bank as of 2Q2021 were estimated at 11.43 million manat ($6.72 million).
(1 USD = 1.7 AZN on July 13)
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