BAKU, Azerbaijan, July 22
By Zeyni Jafarov - Trend:
The total assets of Ziraat Bank Azerbaijan, the subsidiary of the Turkish Ziraat Bank in Azerbaijan, increased by 27.4 percent in the first half of 2021 compared to the same period of last year, Trend reports on July 22 citing the bank's balance sheet.
In accordance with the report, the total assets of Ziraat Bank Azerbaijan reached 349.7 million manat ($205.7 million).
The biggest share (49.5 percent) accounted for the loan portfolio in the amount of 173.07 million manat ($101.8 million) in the structure of assets, which increased by 24.3 percent for the year.
The deduction of target reserves from the portfolio to ensure possible losses amounted to 5.9 million manat ($3.5 million), increasing by 37.1 percent on an annualized basis.
About 8.6 percent in the structure of assets of Ziraat Bank Azerbaijan accounts for the correspondent account in the Central Bank of Azerbaijan - 29.9 million manat ($17.6 million). This figure decreased by 19 percent per annum.
More than 16.6 percent of assets accounted for nostro accounts in the amount of 58.01 million manat ($34.1 million), which increased by 7.7 percent for the year.
More than 4.2 percent of total assets accounted for cash and cash equivalents, which increased by 3.2 times on an annualized basis up to 14.8 million manat ($8.7 million).
Deposits of Ziraat Bank Azerbaijan in other banks and financial institutions amounted to 5.1 million manat ($3 million) during the reporting period. The bank's investments in securities increased by 4.2 times up to 45.3 million manat ($26.6 million).
Other assets of Ziraat Bank in the first half of 2021 were estimated at 3.6 million manat ($2.1 million).
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