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Bank of Azerbaijan posts 15% increase in assets

Bank of Azerbaijan posts 15% increase in assets

14 May 2009 12:51 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, Bank of Azerbaijan osted its assets at AZN 117.086 million, up 14.8% from a year ago.

The bank said deposit portfolio increased by 18% to AZN 49.990 million, loan portfolio rose by 2.7% to AZN 85.549 million, total capital grew by 33% to AZN 20.245 million and authorized capital stock went up by 50% to AZN 15 million.

The bank said revenue increased by 11% year-on-year to AZN 4.435 million and expenditure rose by 0.3% to AZN 4.471 million.

The bank suffered a loss of AZN 36 400 for the first quarter compared to a profit of AZN 426 000 in the same period last year.

Established in 1993, Bank of Azerbaijan is owned by 2 individuals. The bank operates 18 branches, 23 ATMs and 106 POS terminals across the country.

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