Rabitabank gets 36% rise in profit

Rabitabank gets 36% rise in profit
# 01 September 2009 14:50 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, Azerbaijan-based Rabitabank posted its assets at AZN 83.187 million, down 15.7% from a year ago.

Deposit portfolio increased by 2.2% to AZN 44.727 million while lending portfolio fell by 18.8% to AZN 61.024 million. Consumer lending dropped by 11.4% to AZN 20.374 million.

Total equity capital increased by 3.2% to AZN 12.220 million and authorized capital stock added 6.2% to AZN 8.5 million.

Revenue fell by 3.4% to AZN 7.487 million and expenditures dropped by 6.1% to AZN 6.804 million. Gross profit increased by 35.5% year-on-year to AZN 683 million.

The bank launched 3 branches, 2 ATMs and 18 POS terminals over the past one year. Number of bank staff rose by 2% to 309 and average monthly salary increased by 25.6% to AZN 221.

Established in 1993, Rabitabank operates 20 branches, 4 exchange bureaus, 23 ATMs and 103 POS terminals.
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