Finance

Home page

Finance

Azerbaijanâ€™s largest bank posts 62% rise in net profit

27 April 2009 16:07 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, International Bank of Azerbaijan posted its assets at AZN 3 308.797 million, up 14.6% from a year ago.

The bank said deposit portfolio dropped by 5.7% to AZN 1 606.810 million and loan portfolio increased by 35.4% to AZN 2 279.951 million.

Consumer lending grew by 46% to AZN 320.931 million.

Total equity capital grew by 34% to AZN 391.188 million and authorized capital stock increased by 93.8% to AZN 193.834 million.

Net profit increased by 62.4% year-on-year to AZN 30.426 million.

The bank established 1 branch, 14 ATMs and 267 POS terminals across the country.

As Azerbaijanâ€™s and the regionâ€™s largest bank, the International Bank of Azerbaijan with a governmentâ€™s 50.2% stake is owned by the bank staff (10%) and private shareholders (40%).
The bank operates 36 branches, 1 bureaux de change, 589 ATMs, 63 information kiosks and 2 633 POS-terminals.