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Gandja Bank gets 8% fall in deposits

17 April 2009 15:29 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, Azerbaijan-based Gandja Bankâ€™s assets stood at AZN 30.128 million, up 12.4% from a year ago.

The bank said deposit portfolio fell by 7.6% to AZN 2.961 million while loan portfolio increased by 12.7% to AZN 21.015 million.
Consumer lending dipped by 25.2% to AZN 5.348 million.

Total equity capital grew by 2.2% to AZN 11.894 million and share capital stood at AZN 10 million.

Revenue fell by 5.3% year-on-year to AZN 1.207 million and expenditure dropped by 35% to AZN 0.528 million. The bankâ€™s profit rose by 47.2% to AZN 0.679 million.

The number of employees increased by 9% to 73 and average salary rose by 7.7% to 727.

Gandja Bank is the first regional bank in Azerbaijan and the only bank based in Gandja.

The bank operates 2 branhces, 3 ATMs and 14 POS terminals across the country.