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Bank Respublika posts low financials

20 October 2009 14:33 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Bank Respublika posted its assets at AZN 364.472 million, down 10% from a month ago.

The bank said deposit portfolio rose by 1.7% to AZN 149.878 million, while loan portfolio dropped by 13.7% AZN 240.954 million, consumer lending fell by 32.8% to AZN 97.310 million.

Total equity capital grew by 28.7% to AZN 56.231 million and authorized capital stock stood at AZN 22.580 million.

As against a year ago, revenue for January-September fell 10% to AZN 43.235 million and expenditures dropped by 11.4% to AZN 34.891 million. Profit plunged by 32.2% to AZN 8.344 million.

The bank established 8 branches and 7 ATMs over the past one year.

Bank Respublika has been in operation since 1992. DEG Investment Corporation and Sparkassen International Development Trust hold a 25%+1 joint stake.

The bank operates 28 branches, 43 ATMs and 259 POS terminals across the country.