Azerbaijan Credit Bank achieves a 4% rise in assets

Azerbaijan Credit Bank achieves a 4% rise in assets
# 02 September 2009 12:19 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, Azerbaijan Credit Bank posted its assets at AZN 27.558 million, up 3.6% from a year ago.

Deposit portfolio increased by 5.7% to AZN 4.812 million, loan portfolio rose by 21.8% to AZN 26.994 million and consumer lending reached AZN 2.204 million, said the bank.

Total equity capital rose by 8.2% to AZN 12.957 million and paid-up capital remained unchanged at AZN 10.205 million.

As compared a year ago, revenue for the first half of 2009 decreased by 21.8% to AZN 2.133 million and expenditure dropped by 42.4% to AZN 1.112 million. Profit grew by 28% to AZN 1.021 million.

Owned by 11 individuals, Azerbaijan Credit Bank has been in operation since 2005.
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