Finance

Finance

United Credit Bank posts 6% year-on-year rise in assets

10 April 2009 15:11 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. As of April 1, Azerbaijan-based United Credit Bankâ€™s assets stood at AZN 32.598 million, up 6.3% on a year ago.
Vahid Aliyev, deputy chairman of the bank, said loan portfolio increased by 12% to AZN 22.805 million and liabilities grew by 28% to AZN 14.525 million.
Consumer loans increased by 3.3% to AZN 9.407 million, term deposits rose by 9.7% to AZN 6.454 million and non-term deposits reached AZN 1.972 million.
Personal term deposits rose by 11.2% to AZN 5.528 million and non-term deposits grew by 13.4% to AZN 1.648 million.
The bankâ€™s total capital reached AZN 13.461 million and authorized capital stood at AZN 12.108 million.
On the year-on-year basis, revenue rose by 15.1% to AZN 1.330 million, interest incomes increased by 7.3% to AZN 1.181 million, non-interest incomes went up by 2.7 times to AZN 150 000.
Expenditure rose by 56.8% to AZN 1.381, interest expenses AZN 449 000 and non-interest expenses AZN 932 000.
The bank operates 5 branches and 5 ATMs across the country.
Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual bodies in 1996 and was renamed in 1998 as United Credit Bank.