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Azerdemiryolbank gets an 18% year-on-year increase in assets

12 June 2009 12:29 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-ECONOMICS. As of June 1, Azerbaijan-based Azerdemiryolbank posted its assets at AZN 208.48 million, up 17.7% from a year ago.

The bank said loan portfolio increased by 8.03% t0 AZN 159.24 million, accounting for 75% of assets.

Fixed and intangible assets grew by 19% to AZN 13.6 million and total obligations made AZN 169.64 million.

Customer funds reached AZN 59.15 million including AZN 47.78 million of term deposits. The obligations to the financial sector made AZN 97.75 million.

The bankâ€™s total capital stood at AZN 38.84 million and authorized capital at AZN 13.4 million.

Azerdemiryolbank has been in operation since 1989. The European Bank for Reconstruction and Development (EBRD) holds a 25%+1 stake in the bank, leaving 10% to the Netherlands Development Finance Company (FMO), 10% to legal entities and the rest to about 850 individuals.
The bank operates 29 branches, 40 ATMs and 240 POS terminals.