Assets of Azerbaijan Deposit Insurance Fund reached 1 bln AZN

Baku. 1 June. REPORT.AZ/ This year the total assets of Azerbaijan Deposit Insurance Fund (ADIF) amounted to 991 446 million manats as of the date of the 1st of January.

“Report” informs referring to the financial statements of the Fund, this figure is 11,3 times more in comparison with the January 1 of the last year.

789 752 million manats of ADIF’s assets were made up of State promissory notes. This part was formed in 2017 in the assets of the Fund.

Last year ADIF’s total liabilities decreased to 85 677 million manats by being cut 6,9 times. By the beginning of this year, there was a 427 934 million manat-shortfall in Fund’s accrued insurance reserves (net assets) which is 15,7% less as for the beginning of the last year. The paid up funds to the account of ADIF as of the accounting date made up 1 333 703 million manats that as an outcome of it the insurance reserves of the Fund amounted to 905 769 million manats.

ADIF’s profit-and-loss statement hasn’t been declared.