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Gandja Bank sees 29% drop in deposits

Gandja Bank sees 29% drop in deposits

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

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Gandja Bankâ€™s assets stood at AZN 36.433 million, up 23.3% from a year ago.

Deposit portfolio decreased 29.3% to AZN 2.770 million, loan portfolio fell 7.1% to AZN 24.490million, total capital went up by 40.6% to AZN 16.938 million and authorized capital stock grew by 50% to AZN 12.1 million.

Consumer lending dropped by a factor of 3.5 to AZN 2.201 million.

As against a year ago, revenue fell 37.7% to AZN 2.630 million and expenditure dropped 41.7% to AZN 1.969 million. Profit plunged by 21.5% to AZN 0.661 million.

The number of bank employees decreased 4% to 78 while average staff salary increased 19% to AZN 632 million.

Gandja Bank has been in operation since 1994.

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