BAKU, Azerbaijan, January 25. Total liabilities of VTB Bank Azerbaijan decreased by 3.26 percent as of December 31 compared to the same period in 2021, Trend reports via the bank’s balance sheet.
According to the balance sheet, the total liabilities of the bank decreased by 5.3 million manat ($3.1 million) over the year, to 158.2 million manat ($93.06 million).
A significant share (59.92 percent) in the structure of liabilities was accounted for by deposits, which increased by 6.84 percent over the year to 94.8 million manat ($55.7 million). At the same time, the share of deposits of legal entities in the mentioned structure equaled 32.74 percent, decreasing by 11.03 percent to 31.05 million manat ($18.26 million).
Meanwhile, individual deposits accounted for 67.26 percent of VTB Bank Azerbaijan's liability structure. These deposits increased by 18.41 percent over the year and totaled 63.7 million manat ($37.4 million).
The bank's liabilities to credit organizations and other financial institutions amounted to 7.6 million manat ($4.4 million).
Besides, the bank's liabilities to the Central Bank amounted to 46.3 million manat ($27.2 million), increasing by 26.62 percent, while other liabilities equaled 9.3 million manat ($5.4 million).
The share capital of VTB Bank Azerbaijan amounted to 315.8 million manat ($185.7 million) as of December 31, 2022, remaining unchanged over the year.
The capital reserves of the bank stood at over 1.2 million manat ($705,882), having decreased by 24.89 percent year on year. The bank's retained earnings amounted to 236.8 million manat ($139.2 million).
VTB Bank Azerbaijan’s total capital amounted to 80.2 million manat ($47.1 million) in the fourth quarter of 2022.
VTB Bank Azerbaijan completed the fourth quarter of 2022 with a net profit of 11.9 million manat ($7 million), while this figure in the same period of 2021 was 4.2 million manat ($2.4 million). Thus, the profit of VTB (Azerbaijan) for the year increased by 2.82 times.
