diff --git a/shared/src/block.rs b/shared/src/block.rs
index 44b81232..2d8c608c 100644
--- a/shared/src/block.rs
+++ b/shared/src/block.rs
@@ -388,38 +388,36 @@ impl Block {
                 let (msg, packet_data) = data?;
                 let denom = packet_data.token.denom.to_string();
 
-                // If the denom is the native token, we can just return the
-                // receiver
+                let ibc_trace = format!(
+                    "{}/{}/{}",
+                    msg.packet.port_id_on_b,
+                    msg.packet.chan_id_on_b,
+                    packet_data.token.denom
+                );
+
+                let trace = Id::IbcTrace(ibc_trace.clone());
+                let address = namada_ibc::trace::convert_to_address(ibc_trace)
+                    .expect("Failed to convert IBC trace to address");
+
+                let mut balances = vec![BalanceChange::new(
+                    Id::Account(String::from(packet_data.receiver.as_ref())),
+                    Token::Ibc(IbcToken {
+                        address: Id::from(address.clone()),
+                        trace,
+                    }),
+                )];
+
+                // If the denom contains the namada native token, try to fetch
+                // the balance
                 if denom.contains(&native_token.to_string()) {
-                    vec![BalanceChange::new(
+                    balances.push(BalanceChange::new(
                         Id::Account(String::from(
                             packet_data.receiver.as_ref(),
                         )),
                         Token::Native(native_token.clone()),
-                    )]
-                } else {
-                    let ibc_trace = format!(
-                        "{}/{}/{}",
-                        msg.packet.port_id_on_b,
-                        msg.packet.chan_id_on_b,
-                        packet_data.token.denom
-                    );
-
-                    let trace = Id::IbcTrace(ibc_trace.clone());
-                    let address =
-                        namada_ibc::trace::convert_to_address(ibc_trace)
-                            .expect("Failed to convert IBC trace to address");
-
-                    vec![BalanceChange::new(
-                        Id::Account(String::from(
-                            packet_data.receiver.as_ref(),
-                        )),
-                        Token::Ibc(IbcToken {
-                            address: Id::from(address.clone()),
-                            trace,
-                        }),
-                    )]
+                    ))
                 }
+                balances
             }
             TransactionKind::TransparentTransfer(data) => {
                 let data = data.as_ref()?;