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Amrahbank assets to increase 60% this year

Amrahbank assets to increase 60% this year

06 July 2009 10:32 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. Azerbaijanâ€™s Amrahbank joint-stock commercial bank intends to increase assets 60,3% at 100 mln AZN by the end of 2009.

Chairman of the Board of Governors Emil Mammadov told APA-Economics the bank is also expected to increase its loan portfolio, which is forecasted to increase 51.2% and to reach 60 mln AZN and incomes expected to increase 20.4% and to reach 4 mln AZN.

The bank assets reached 62,396 mln AZN, deposit portfolio â€“ 32,688 mln AZN, loan portfolio â€“ 39,583 mln AZN, total capital 21,775 mln AZN and nominal capital â€“ 12,820 AZN to January 1, 2009.

Amrahbank was founded by five local physical entities (51%) and Bahrain International Investment Bank (49%) in 1993. The bank has 23 branches, 12 ATMs and 45 POS-terminals.

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