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United Credit Bank posts 7% growth in deposit portfolio

08 June 2009 16:45 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of June 1, Azerbaijan-based United Credit Bank posted its assets at AZN 33.248 million, up 2.8% from a year ago.

The bankâ€™s deputy chairman Vahid Aliyev told APA-Economics that loan portfolio increased by 7.4% to AZN 24.442 million, deposit portfolio rose by 6.6% to AZN 9.004 million and obligations went up by 9.4% to AZN 15.420 million.

Term deposits increased by 18% to AZN 7.425 million and term deposits by individuals increased by 6.8% to AZN 5.749 million.

Total equity capital reached AZN 13.283 million and authorized capital stock AZN 12.108 million.

For January-May, revenue reached AZN 2.172 million including interest income AZN 1.980 and non-interest income AZN 0.192 million while expenditure reached AZN 2.454 million including interest expenses AZN 0.752 million and non-interest expenses AZN 0.282 million.

The loss for January-May was AZN 282 000.

Owned by a legal entity and two individuals, United Credit Bank has been in operation since 1996. the bank operates 5 branches, 5 ATMs and 7 POS terminals.