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BANK OF BAKU
AUDITORS REPORT AND FINANCIAL STATEMENTS AT 31 DECEMBER 1998


Note 5 - Loans and Advances to Banks

 

1998

1997

 

Current loans

 -

77,760

Overdue loans

116,700

-

Less: provision for bad and doubtful loans

(58,350)

(29,931)

 

Total loans and advances to banks

58,350

47,829


Movement in the provision for bad and doubtful loans is as follows:

1998

1997

 

Provision for bad and doubtful loans at 1 January

29,931

-

Charge against profit for bad and doubtful loans in the year

28,419

29,931

 

Provision for bad and doubtful loans at 31 December

58,350

29,931


Interest rate on USD loans issued during the year was 15%.

Note 1 Principal Activities
Note 2 Basis of Presentation
Note 3
Significant Accounting Policies
Note 4
Cash and Short-Termshort-term funds
Note 5
Loans and Advances to Banks
Note 6
Loans and Advances to Customers
Note 7
Premises and Equipment
Note 8
Deposits From Banks
Note 9
Customer Accounts
Note 10
Other Liabilities
Note 11
Share Capital
Note 12
Accumulated Deficit / Retained earnings
Note 13
Dividends
Note 14
Fees and Commission Income
Note 15
Fees and Commission Expense
Note 16
General, Administrative and Other Operating Expenses
Note 17
Taxation
Note 18
Asset and Liability Concentration
Note 19
Fair value of Financial Instruments
Note 20
Risk Management
Note 21
Commitments and Contingent Liabilities
Note 22
Reconciliation of Azeri Accounting Rules to International. Accounting Standards
Note 23 Related Party Transactions

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