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Gunay Bank sees 35% drop in deposits

Gunay Bank sees 35% drop in deposits

17 April 2009 15:03 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. As of April 1, Azerbaijan-based Gunay Bank posted its assets at AZN 28.580 million, up 26% on a year ago.

The bank said loan portfolio rose by 67.5% to AZN 31.582 million while deposit portfolio dwindled by 35.4% to AZN 5.307 million, including term deposits reaching AZN 4.893 million.

Total equity capital grew by 5.7% to AZN 11.759 million and authorized capital stood at AZN 10.892 million.

Revenue increased by 3.2% year-on-year to AZN 1.304 million and expenditure decreased by 53% to AZN 432 000.

The bankâ€™s profit more than doubled to AZN 872 000.

Owned by 10 individuals, Gunay Bank has been in operation since 1992.

The bank operates 1 branch, 1 bureau of exchange, 1 ATM and 1 POS terminal across the country.

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