AGBank posts 16% rise in assets

AGBank posts 16% rise in assets
# 05 May 2009 16:27 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, Azerbaijan-based AGBank posted its assets at AZN 204.767 million, up 16.1% from a year ago.

The bank said deposit portfolio increased by 11% to AZN 105.042 million, loan portfolio rose by 25.7% to AZN 155.144 million while consumer lending fell by 4.2% to AZN 12.086 million.

Total capital increased by 62% to AZN 31.386 million and authorized capital stock rose by 25% to AZN 15 million.

As against a year ago, revenue increased by 27.3% to AZN 9.720 million and expenditure rose by 19.5% to AZN 6.672 million. Profit increased by 48.4% to AZN 3.048 million.

The bank established 2 branches and 5 ATMs over the past year.

The number of employees increased by 22.3% to 422 and average monthly salary increased by 4.2% to AZN 748.

Established in 1992, AGBank operates 16 branches, 54 ATMs and 409 POS terminals across the country.
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