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Bank Respublika posts flagging financials

Bank Respublika posts flagging financials

13 August 2009 15:44 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of August 1, Azerbaijan-based Bank Respublika posted its assets at AZN 349.5million, down 11.5% from a month ago.

The bank said loan portfolio balance was AZN 231.3 million.

Meanwhile, funds in customer accounts increased by 8.7% to AZN 147.6 million, deposits by individuals rose by 23.9% to AZN 98.4 million and deposits by population went up by 28.4% to AZN 82.4 million.

Revenue for January-July made AZN 34.72 million and expenditures reached AZN 27.55 million. Profit made AZN 7.17 million.

Bank Respublika has been in operation since 1992. DEG Investment Corporation and Sparkassen International Development Trust hold a 25%+1 joint stake.

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