BAKU, Azerbaijan, July 29
By Zeyni Jafarov – Trend:
The total assets of the International Bank of Azerbaijan (IBA) in the second quarter of 2021 have grown, Trend reports citing the bank's financial report.
According to the report, this indicator reached 8.8 billion manat ($5.1 billion), which is growth of 4.5 percent on annual basis.
The biggest share (30.5 percent) in the structure of assets accounted for the loan portfolio in the amount of 2.7 billion manat ($1.6 billion), up by 11.7 percent for the year.
More than half of IBA’s loan portfolio accounted for the business loans in the amount of 1.3 billion manat ($764 million, rise of 11.1 percent year on year).
About 24.3 percent accounted for consumer loans in the amount of 656 million manat ($385.8 million, increase of 18.9 percent on annual basis).
Some 25.4 percent fell on the loans for real estate in the amount of 685.9 million manat ($403.4 million, up 6.5 percent).
Cash and cash equivalents made up about 23.7 percent of the bank's total assets, increasing by 5 percent for the year to 2.1 billion manat ($1.2 billion).
IBA's deposits in banks and other financial institutions were estimated at 2.53 billion manat ($1.5 billion, decrease of 12.4 percent for the year).
The deduction of target reserves from the portfolio to ensure possible losses amounted to 260.8 million manat ($153.4 million, increase of 21.6 percent for the year).
During the reporting period, IBA issued the loans to banks and other financial institutions in the amount of 11.2 million manat ($6.6 million, growth of 52.2 percent compared to the late second quarter of 2020).
The investments in securities in the structure of the bank's total assets increased by 34 percent for the year up to 1.4 billion manat ($823 million).
Unused real estate amounted to 175.6 million manat ($103.3 million). Intangible assets increased by 9.5 percent, amounting to 16.1 million manat ($9.4 million).
IBA’s other assets during the reporting period were estimated at 292.6 million manat ($172.1 million).
In the first quarter of 2021, the total assets of the bank amounted to 9.2 billion manat ($5.4 billion).
(1 USD = 1.7 AZN on July 29)
---
Follow the author on Twitter: @jafarov_zeyni
