Khalq Bank gets 52% year-on-year growth in assets

Khalq Bank gets 52% year-on-year growth in assets
# 20 April 2009 17:03 (UTC +04:00)
Baku. Elnur Huseynquluyev – APA-Economics. As of April 1, Azerbaijan-based Khalg Bank posted its assets at AZN 386.153 million, up 52% on a year ago.

The bank said loan portfolio grew by 46.6% to AZN 209.476 million and loan portfolio increased by 72% to AZN 341.894 million.
Consumer lending rose by 76.3% to AZN 6.209 million.

The bank’s total equity capital grew by 26% to AZN 62.311 million and authorized capital stock stood at AZN 53.550 million.

Revenue went by 2.4% year-on-year to AZN 9.909 million and expenditure dropped by 56% to AZN 4.863 million.

Profit was AZN 5.046 million, compared to AZN a loss of 1.409 million in the same period last year.

The bank established 4 branches, 9 ATMs and 17 POS terminals across the country over the past year. The number of employees increased by 54% to 265.

Owned by several legal entities, Khalg Bank has been in operation since 2004.

The bank operates 8 branches, 24 ATMs and 34 POS terminals.