IBA Announces Profit for Nine Months
2017 October 27 ( Friday ) 13:45:39
Baku / 27.10.17 / Turan: OJSC International Bank of Azerbaijan raised balance profit for the first nine months of 2017 in the amount of 469.9 million manat, according to the balance sheet https://ibar.az/site/assets/files/3384 /balans_hesabati.pdf of the bank.
For the first nine months, IBA obtained about 405 million manat in interest and related incomes. Interest payments of the bank made AZN 131.4 million. In non-interest transactions (AZN 464.5 million), it raised AZN 344.3 million for three quarters.
As of October 1, IBA assets amounted to 7.1 billion manat, of which 2 billion 217.4 million manat is loans given to customers, taking into account the reserves for them. The Central Bank still has deposits of 3 billion 50.9 million manat. In securities, the IBA has invested 268.4 million manat of its assets.
In the IBA at the beginning of October this year, there were funds of banks and other financial institutions for a total of 2 billion 348 million manat. Timed deposits of the population and companies in the IBA are estimated at more than 1 billion manat. Demand deposits of legal entities amount to 2 billion 375.4 million manat, and those of individuals are 437.4 million manat.
According to the report, shareholders" equity of the bank is 319.4 million manat. It should be noted that the paid authorized capital of the IBA exceeds 1.2 billion manat. In other words, the bank did not restore its capital after the loss of solvency in early 2015. The state represented by the Ministry of Finance, the State Property Committee and CJSC Agrarkredit own over 95% of the shares of the IBA. ---08B--