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Azerdemiryolbank gets an 11% year-on-year increase in assets

Azerdemiryolbank gets an 11% year-on-year increase in assets

26 August 2009 14:09 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-ECONOMICS. As of August 1, Azerbaijan-based Azerdemiryolbank posted its assets at AZN 223.9 million, up 11.2% from a year ago.

The bank said loan book increased to AZN 166.4 million, customer deposits increased by 23% to AZN 63.1 million. Deposits by the population rose by 38.8% to AZN 53.8 million.

The bankâ€™s total capital stood at AZN 39.6 million and authorized capital at AZN 16.4 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.

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