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Rabitabank gets 15% year-on-year rise in revenue

14 April 2009 15:42 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, Azerbaijan-based Rabitabank posted its assets at AZN 85.605 million, down 10% from a year ago.

The bank said deposit portfolio decreased by 14.7% to AZN 67.717 million and loan portfolio dropped by 5.7% to AZN 65.185 million.

Consumer lending fell by 0.1% to AZN 22.536 million.

The bankâ€™s total capital increased by 5.4% to AZN 12.027 million and authorized capital rose by 6.2% to AZN 8.5 million.

Revenue grew by 15.4% year-on-year to AZN 3.912 million and expenditure rose by 6% to AZN 3.509 million.

Net profit for the past 12 months quintupled to AZN 403 000.

PR and marketing expenses nearly tripled to AZN 55 000.

The bank established 9 branches, 1 ATM and 8 POS terminals across the country over the past year. The number of employees rose by 11% to 312 and average monthly salary increased by 15% to AZN 849.

Rabitabank has been in operation since 1993. It operates 22 branches, 4 bureaus of exchange, 22 ATMs and 92 POS terminals across the country.