Customers turn away from AFB Bank


July 23, Fineko/abc.az. As of 30 June 2021 the assets of AFB Bank OJSC amounted to AZN 259.395 million (AZN 22.029 million less versus the same period of 2020), ABC.AZ informs with reference to Bank's financial report for Q2 of 2021.

The analysis shows that Bank's loan portfolio at the end of the reporting period totaled AZN 162.415 million. During the year Bank's loan portfolio decreased by AZN 19.814 million.

If we look at the structure of the loan portfolio, it becomes clear that consumer loans amount to AZN 23.59 million (a decrease of AZN 4.153 million), business loans AZN 95.096 million (a decrease of AZN 18.345 million), AZN 43.727 million (an increase of AZN 2.684 million).

For possible damage, AFB Bank has created a target reserve in the amount of AZN 41.415 million.

As of 1 July 2021 Bank's deposit portfolio reached AZN 89.7 million. In other words, it decreased by AZN 20.838 million over the year. If we look at the structure of the deposit portfolio, it becomes clear that individuals withdrew AZN 12.624 million from the bank and legal entities AZN 8.213 million.

While the bank completed the 1st half of last year with net profit of AZN 3.2 million, the profit for the same period of this year reaches AZN 8.2 million. Due to this, Bank's retained earnings decreased to AZN 14.417 million.