Parabank posts 33% rise in assets

Parabank posts 33% rise in assets
# 26 August 2009 14:21 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of July 1, Azerbaijan-based Parabank posted its assets at AZN 74.852 million, up 32.6% from a year ago.

The bank said loan portfolio increased by 42.5% year-on-year to AZN 48.325 million and consumer loans increased by 7.9 times to AZN 27.695 million.

Revenue reached AZN 6.179 million (40.9% year-on-year rise) and expenditure AZN 6.043 million (22%). Profit made AZN 135 910, compared to a loss of AZN 555 940 in the first half of 2008.

Total capital dropped by 3.8% to AZN 11.506 million while authorized capital increased by 7.2% to AZN 10.070 million.

Owned by 23 individuals, Parabank has been in operation since 1991.

It operates 15 branches, 10 ATMs and 127 POS terminals across the country.
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