BAKU, Azerbaijan, January 19. The total assets of the International Bank of Azerbaijan increased by 22.25 percent in 2022 compared to 2021, Trend reports citing the bank's balance sheet.
According to the sheet report, the bank's total assets reached 14.03 billion manat ($8.25 billion), up by 2.5 billion manat ($1.47 billion) year on year. Out of gross assets, the largest share (28.02 percent) fell on cash and its equivalents, totaling 3.9 billion manat ($2.29 billion).
Targeted reserve deductions to ensure possible losses amounted to 292.841 million manat ($172.26 million).
Following the results of 2022, about 25.15 percent of the total assets of the International Bank of Azerbaijan fell on the loan portfolio, which grew by 13.91 percent to 3.53 billion manat ($2.08 billion) over the year.
Another 21.65 percent of the bank's assets were investments in securities - 1.5 billion manat ($882.3 million).
Other assets of the bank stood at 424.89 million manat ($249.94 million).
