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Tuesday, August 22, 2017

EDB publishes financials for first six months of 2014

The Eurasian Development Bank (EDB) recently published its interim financial statements according to IFRS for the first six months of 2014.

EDB, which was rated A3 by Moody's and BBB by Standard & Poor's, had assets made up of $4.3 billion for the first six months of 2014, with the amount of loans disbursed to customers increasing by $130.9 million--or 5.6 percent--during the reporting period to $2.5 billion.

Total liabilities for the bank were $2.7 billion for the period, while EDB's amount of debt securities issued was $2.4 billion, declining by $345.8 million, or 12.4 percent.

EDB's total equity for the six months of 2014 reached $1.6 billion. Its total comprehensive income was $2.7 million, while net profits increased to $5.8 million following a net loss of $37.9 million for the same period of 2013.

Founded by Russia and Kazakhstan in January 2006, the EDB's mission is to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. The bank's charter capital exceeds $1.5 billion.

Member states of the bank include Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan.