Nikoil Bank gets 27% fall in deposit base

Nikoil Bank gets 27% fall in deposit base
# 01 May 2009 13:48 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, Azerbaijan-based Nikoil Bank posted its assets at AZN 289.249 million, up 98.7% on a year ago.

The bank said deposit portfolio dropped by 27.2% to AZN 54.997 million while loan portfolio fell by 45.8% to AZN 161.980 million and consumer loans grew by 81.727 million.

Total equity capital increased by 2.2 times to AZN 31.018 million and authorized capital rose by 2.3 times to AZN 22.5 million.

As against a year ago, revenue doubled to AZN 11.316 million and expenditure grew by 78.7% to AZN 5.331 million. Profit quadrupled to AZN 1.792 million.

The bank established 1 branch, a bureau of exchange and 3 ATMs. The number of employees increased by 14.2% to 257.

Nikoil Bank, owned by Russia’s Uralsib (61%), Uralsib Invest (19%) and ISR Holding (20%), has been in operation since 1997.

The bank operates 11 branches, 17 ATMs and 60 POS terminals.
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