Finance

Home page

Finance

United Credit Bank posts 3% growth in assets

16 October 2009 15:44 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based United Credit Bank posted its assets at AZN 34.527 million, up 3% from a year ago.

The bankâ€™s deputy chairman Vahid Aliyev told APA-Economics that loan portfolio increased by 14.1% to AZN 25.301 million, deposit portfolio rose by 20.2% to AZN 10.428 million and obligations went up by 20.1% to AZN 17.018 million.

Consumer lending grew by 8.6% to AZN 9.563 million.

Term deposits increased by 11.4% to AZN 8.303 million and term deposits by individuals increased by 41.2% to AZN 6.623 million.

Total equity capital reached AZN 13.033 million and authorized capital stock AZN 12.108 million.

As against a year ago, revenue increased 9% to AZN 3.858 million including interest income AZN 3.481 and non-interest income AZN 0.377 million while expenditure increased 30% to AZN 4.395 million including interest expenses AZN 1.429 million and non-interest expenses AZN 2.966 million.

The loss for January-May was AZN 282 000.

Owned by a legal entity and two individuals, United Credit Bank has been in operation since 1996. The bank operates 5 branches, 5 ATMs and 7 POS terminals.