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Parabank gets 46% rise in assets

18 May 2009 16:58 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, Azerbaijan-based Parabank posted its assets at AZN 71.411 million, up 46.4% from a year ago.

The bank said deposit portfolio increased by 65.4% to AZN 40.057 million, credit portfolio rose by 89.4% to AZN 46.125 million and consumer loans droped by 38.3% to AZN 10.476 million.

Total equity capital increased by 12.9% to AZN 11.407 million and authorized capital stock rose by 7.2% to AZN 10.070 million.

Revenue increased by 46.5% to AZN 2.915 million and expenditure rose by 48.4% to AZN 2.920 million. Prodit for the first quarter was AZN 30 000, compared to a loss of AZN 41 600 in the same period last year.

The bank established 7 branches, 1 ATM and 65 POS terminals over the past one year.
The number of employees increased by 31% to 324.

Owned by 23 individuals, Parabank operates 15 branches, 9 ATMs and 138 POS terminals across the country.