AGBank sees 84% decline in loss

As of April 1, 2019, assets of AGBank stood at AZN 495.17 million, down 1.8% from the previous year, Report informs.

Bank says AZN 208.888 million of assets was loans given to customers. Loan portfolio diminished 11.7% year-on-year.

Liabilities dropped by 3.6% settling at AZN 443.717 million, deposit portfolio slipped 4.5% to AZN 221.172 million, liabilities to the Central Bank of Azerbaijan slid 2.8% to AZN 38.9 million, total capital grew by 17.3% to AZN 51.453 million, authorized capital surged 1.6% to AZN 103.8 million.

Interest incomes fell 29.1% to AZN 3.51 million, interest expenditures declined by 10.2% to AZN 4.316 million, non-interest incomes went up 31.7% to AZN 8.428 million, non-interest expenditures dropped by 3.5% to AZN 8.508 million, allocations for special reserves on compensation of possible losses on assets made up AZN 438,000, unexpected expendituers grew by about 28-fold to AZN 83,000. Consequently, the bank ended the first quarter of 2019 on AZN 531,000 in loss, down 83.5% from the previous year.

AGBank was established in 1992 as Azerigazbank and rebranded in 2012.