BANK OF BAKU AUDITORS REPORT AND
FINANCIAL STATEMENTS AT
31 DECEMBER 2001
Note 5 - Loans and advances to banks
2001
2000
Current loans
835,625
114,125
Add: Accrued interest
7,029
-
Total amortized cost
842,654
114,125
Less: provision for loan impairment
(7,162)
-
Total loans and advances to banks net
835,492
114,125
Loans and advances to banks outstanding at year-end comprise of term deposits placed with local banks.
Movements in provision for impairment on loans to banks are as follows:
2001
2000
Provision for impairment on loans to banks at 1 January
-
145,000
Charge for the year
7,162
-
Written off during the year
-
(145,000)
Provision for impairment on loans to banks at 31 December
7,162
-
A geographical and currency analysis of loans and advances to banks is disclosed in
Note 3. The maturity structure of the loan portfolio is detailed in
Note 3.
