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Parabank posts 37% rise in deposit portfolio

19 October 2009 15:55 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of October 1, Azerbaijan-based Parabank posted its assets at AZN 74.457 million, up 20% from a year ago.

The bank said loan portfolio increased by 22.2% year-on-year to AZN 47.901, deposit portfolio rose by 36.6% to AZN 46.916 million while consumer loans plunged by 44.1% to AZN 27.307 million.

Total capital rose by 0.2% to AZN 11.750 million and authorized capital increased by 7.2% to AZN 10.070 million.

Revenue reached AZN 9.624 million (33.8% year-on-year rise) and expenditure AZN 9.269 million (17%). Profit made AZN 355 000, compared to a loss of AZN 724 000 in the same period of 2008.

The bank established 6 branches, 4 ATMs and 39 POS terminals overt the past one year. The number of staff increased by 12.4% to 327 and average salary rose by 2.5% to AZN 443.

Owned by 23 individuals, Parabank has been in operation since 1991.

It operates 15 branches, 10 ATMs and 129 POS terminals across the country.