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Royal Bank posts 59% year-on-year growth in deposit portfolio

16 October 2009 14:12 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Royal Bankâ€™s assets stood at AZN 135.55 million, up 35% on a year ago.

The bank said loan portfolio rose 28.6% to AZN 99.254 million, deposit portfolio increased 58.5% to AZN 54.501 million, total equity capital grew 11.8% to AZN 21.698 million and authorized capital stock went up 17.7% to AZN 19.912 million.

Consumer lending surged 33.3% to AZN 85.747 million.

As against a year ago, revenue increased 61% AZN 18.947 million and expenditure rose 77% to AZN 17.981 million. The bankâ€™s profit plunged 60% year-on-year to AZN 647 000.

The bank established 3 branches, 8 ATMs and 26 POS terminals over the past year.
The number of employees increased 26% to 5482 and monthly salary fell 6.4% to AZN 510 on average.

At present the bank operates 31 branches, 4 bureaux de change, 29 ATMs and 97 POS terminals across the country.

Royal Bank (so named in 2008) was established by a U.S. citizen in 1993 as OZ Bank which was renamed as Royal Bank of Baku in 2003.