Azerdemiryolbank gets a 25% year-on-year increase in assets

Azerdemiryolbank gets a 25% year-on-year increase in assets
# 12 May 2009 10:08 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-ECONOMICS. As of April 1, Azerbaijan-based Azerdemiryolbank posted its assets at AZN 213.029 million, up 25.4% on a year ago.

The bank said deposit portfolio dropped by 3.1% to AZN 56.923 million while loan portfolio increased by 23.2% to AZN 157.354 million and consumer loans rose by 50.3% to AZN 64.817 million.

Total equity capital grew by 25.3% to AZN 38.538 million and authorized capital stock increased by 28.8% to AZN 13.400 million.

Revenue fell by 15% year-on-year to AZN 8.977 million and expenditure dropped by 16% to AZN 6.768 million. Profit fell by 12% to AZN 2.208 million.

The bank established 5 branches, 3 ATMs and 98 POS terminals across the country over the past year.

Established in 1989, Azerdemiryolbank is owned by the European Bank for Reconstruction and Development (EBRD) (25%+1), the Netherlands Development Finance Company (FMO) (10%), legal entities (10%) and about 850 individuals (the rest).

The bank operates 29 branches, 40 ATMs and 240 POS terminals across the country.
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