NBP Baku branch sees sharp decline in liabilities 

The Baku branch of the National Bank of Pakistan (NBP) ended nine months of 2021 with AZN 228,000 in loss, 27.6% less than a year earlier, Report informs, citing the bank.

In the reporting period, the incomes dropped by 7.1% to AZN 275,000, expenditures – by 16% to AZN 5115,000, savings on allocations to special reserves increased by sixfold to AZN 12,000.

As of October 1, 2021, the assets stood at AZN 9.652 million, down 19.1% from the previous year. Of this, AZN 595,000 was the net loan given to the customer. The loan portfolio extended 36.7% year-on-year.

Liabilities dropped by seven times to AZN 357,000, including deposit portfolio fell by 7.1-fold to AZN 342,000, and net worth slid 1.4% to AZN 9.295 million.

The NBP Baku branch has been in operation since 1996. Authorized capital is AZN 9.42 million.