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Over half of Azerbaijani AGBank's liabilities account for deposits

28 April 2020 10:00 (UTC+04:00)
Over half of Azerbaijani AGBank's liabilities account for deposits

By Trend

Azerbaijan’s AGBank OJSC increased total liabilities by 13.5 percent to 410 million manat ($241.1 million) in the first quarter of 2020, Trend reports citing the bank’s balance sheet.

According to the balance sheet, a significant share (51.1 percent) in the structure of liabilities accounted for deposits, which increased by 0.6 percent and amounted to 209.4 million manat ($123.1 million). At the same time, deposits of individuals amounted to 70 percent, which increased by only 30,000 manat ($17,647), up to 146.5 million manat ($86.1 million).

In 1Q2020, legal entities' deposits accounted for 30 percent of the deposit portfolio - 62.8 million manat ($36.9 million), showing an increase of 1.9 percent compared to 1Q2019,” said the report.

Liabilities to the CBA, state funds, credit organizations and other financial institutions increased by only 0.1 percent on an annualized basis and amounted to 126.5 million manat ($74.4 million).

Other liabilities amounted to 67.4 million manat ($39.6 million), indicating an increase of 6.5 percent.

According to the report, the bank’s share capital on did not change an annualized basis and amounted to 103.8 million manat ($61 million). The uncovered loss amounted to 64.9 million manat ($38.1 million), an increase of 1.5 percent over the year. Capital reserves amounted to 3.3 million manat ($1.9 million), an increase of 1.2 percent.

Total capital amounted to 49 million manat ($28.8 million), decreasing by 1.5 percent.

(1 USD = 1.7 AZN on Apr. 27)

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