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Azerbaijan Industry Bank gets a 28% rise in spending

Azerbaijan Industry Bank gets a 28% rise in spending

30 July 2009 10:19 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, Azerbaijan Industry Bankâ€™s assets stood at AZN 63.787 million, down 22.4% on a year ago.

The bank said loan portfolio decreased by 19% to AZN 38.714 million, deposit portfolio dropped by 50% to AZN 23.713 million, total equity capital went down 10% to AZN 17.387 million and authorized capital stood at AZN 12.8 million.

Revenue fell by 5.4% year-on-year to AZN 4.702 million and expenditures jumped by 27.6% to AZN 3.665 million.
Profit nearly halved to AZN 1.098 million.

The bank established 3 branches, 6 ATMs and 152 POS terminals over the past one year.

The number of employees increased 19% to 144.

The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.

It operates 8 branches across the country.

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