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YapÄ±Kredi Bank Azerbaijan sees 12% year-on-year drop in profit

13 October 2009 14:58 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, YapÄ±Kredi Bank Azerbaijanâ€™s assets stood at AZN 138.469 million, up 27.3% on a year ago.

The bank said deposit portfolio fell by 26% to AZN 49.801 million, loan portfolio more than doubled to AZN 28.057 million, total equity capital grew by 92.3% to AZN 42.473 million and authorized capital jumped by 4.3 times to AZN 27.209 million.

Revenue rose by 48% year-on-year to AZN 28.048 million and expenditure increased by 66.7% to AZN 24.166 million.

Profit fell by 11.7% year-on-year to AZN 3.931 million while net profit represented a 13.5% year-on-year rise to AZN 3.382 million.

The bank established 1 ranches, 1ATM and 27POS terminals across the country.

Owned by Turkeyâ€™s YapÄ±Kredi Bank (80%) and International Financial Corporation (20%), YapÄ±Kredi Bank Azerbaijan has been in operation since 2000.
The bank operates 4 branches, 14ATMs and 66POS terminals.