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Nikoil Bank sees 35% decline in assets

13 October 2009 15:08 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Nikoil Bank posted its assets at AZN 218.097 million, down 35.4% from a year ago.

The bank said deposit portfolio dropped by 23.4% to AZN 55.422 million, loan portfolio decreased by 5.2% to AZN 142.870 million and consumer loans fell by 5% to AZN 68.465 million.

Total equity capital went down by 3% to AZN 28.998 million and authorized capital remained at AZN 22.5 million.

As against a year ago, revenue for January-September rose by 42.3% to AZN 30.939 million and expenditure grew by 62.2% to AZN 30.171 million. Profit plunged by 4-fold year-on-year to AZN 0.763 million.

The bank established 1 branch and 8 ATMs. The number of employees increased by 15.6% to 297.

Nikoil Bank, owned by Russiaâ€™s Uralsib (61%), Uralsib Invest (19%) and ISR Holding (20%), has been in operation since 1997.

The bank operates 11 branches, 22 ATMs and 25 POS terminals.