BAKU, Azerbaijan, April 25. Total assets of Azerbaijan’s Xalq Bank increased by 12.07 percent in 1Q2022 compared to the same period last year, Trend reports citing the bank's balance sheet.
According to the bank’s report, the total assets of the bank increased by 257.09 million manat ($151.2 million) over the year - up to 2.3 billion manat ($1.3 billion). The largest share (59.5 percent) in their structure was the loan portfolio, which grew by 0.73 percent over the year to 1.4 billion manat ($823.5 million). Deduction of targeted reserves from the bank's portfolio to ensure possible losses amounted to 18.09 million manat ($10.6 million).
According to results of 1Q2022, about 7.2 percent of the bank's assets were investments in securities - 171.6 million manat ($100.9 million, a decrease of 1.6 percent over the year).
Another 3.07 percent of the bank’s total assets were cash and cash equivalents, which grew by 19.8 percent over the year to 73.3 million manat ($43.1 million).
Unused real estate in the structure of banks’ long-term assets amounted to 45.05 million manat ($26.5 million), having increased by 112.3 percent over the year. Other assets of the bank amounted to 43.2 million manat ($25.4 million, a decrease of 19.36 percent over the year) in 1Q2022.
