Bank Avrasiya Suffers Loss - Its Situation is Difficult

Bank Avrasiya OJSC ended the first quarter of this year with a loss of 937 thousand manats. However, in the same period last year, the Bank had reported a profit of 1.977 million manats.

In January-March, Bank Avrasiya's operating income amounted to 5.093 million manats (8.9% more than a year ago), operating expenses to 3.561 million manats (25.9% more), allocations to special reserves to 2.548 million manats (21.6 times more), and unexpected income to 80 thousand manats (3.1 times less).

As of April 1 this year, Bank Avrasiya's assets amounted to 213.948 million manats, which is 8.9% more year-on-year. Of this, 118.942 million manats are net loans extended to customers. In the last year, the Bank's loan portfolio grew by 0.5%.

During the reporting period, Bank Avrasiya's liabilities increased by 13.7% to 124.913 million manats, including a 26.8% increase in the deposit portfolio to 72.754 million manats, and a 2.9% increase in balance sheet capital to 89.035 million manats.

It should be noted that Bank Avrasiya was established in 2007. Its authorized capital is 71.8 million manats. 49.5% of the Bank's shares belong to "Azbizneskom" LLC, 49.5% to "Top Properties" LLC, and 1% to Rustam Eynullayev.

Report