Finance

Home page

Finance

Azerbaijanâ€™s largest bank posts 62% rise in net profit

28 July 2009 12:08 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, International Bank of Azerbaijan posted its assets at AZN 3 466.987 million, down 4.6% from a year ago.

The bank said deposit portfolio dropped by 18.2% to AZN 1 594.865 million and loan portfolio decreased by 45.7% to AZN 2 454.773 million.

Consumer lending grew by 35.8% to AZN 356.732 million.

Total equity capital grew by 72.2% to AZN 466.051 million and authorized capital stock increased by 97.6% to AZN 197.587 million.

Net profit increased by 61.6% year-on-year to AZN 62.189 million.

The bank established 1 branch, 1 ATMs and 367 POS terminals across the country over the past year.

As Azerbaijanâ€™s and the regionâ€™s largest bank, the International Bank of Azerbaijan with a governmentâ€™s 50.2% stake is owned by the bank staff (10%) and private shareholders (40%).
The bank operates 37 branches, 587 ATMs, 63 information kiosks and 2 962 POS-terminals.