Kredo Bank gets fall in profit

Kredo Bank gets fall in profit
# 05 May 2009 13:11 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, Kredo Bank posted its assets at AZN 47.339 million, up 85.6% from a year ago.

The bank said deposit portfolio increased by 3.6 times to AZN 13.820 million, loan portfolio by 40.2% to AZN 27.230 million and consumer lending rose by 22.5% to AZN 6.101 million.

Total capital dropped by 1.6% to AZN 13.998 million and authorized capital stock increased by 3.2% to AZN 13.040 million.

As against a year ago, revenue fell by 40% to AZN 1.244 million and expenditure increased by 12.3% to AZN 1.071 million. Profit plunged by 6.4 times to AZN 0.173 million.

The bank established 1 branch, 2 exchange bureaus, 6 ATMs and 55 POS terminals. The number of employees increased by 9% to 123, average monthly salary increased by 2.7 times to AZN 317.

Established in 1994, Kredo Bank is owned by 11 local individuals. The bank operated 10 branches, 18 exchange bureaus, 6 ATMs and 55 POS terminals across the country.
#
#

THE OPERATION IS BEING PERFORMED