UniBank posts flagging financials

UniBank posts flagging financials
# 07 May 2009 14:29 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, Azerbaijan-based UniBank posted its assets at AZN 374.181 million, down 10.4% from a year ago.

The bank said loan portfolio dropped by 29% to AZN 89.353 million, loan portfolio declined by 7.3% to AZN 286.677 million and consumer lending decreased by 60.5% to AZN 121.309 million.

The bank’s total equity capital increased by 29.5% to AZN 68.900 million and authorized capital stock stood at AZN 15 million.

As against a year ago, revenue fell by 12.3% to AZN 28.828 million and expenditure rose by 8.9% to AZN 26.366 million.

Profit dipped by 33% to AZN 2.462 million and net profit lunged by 32.6% to AZN 1.920 million.

The bank established 7 branches and increased the number of employees by 19% to 601 over the past one year.

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