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Kafkaz Development Bank sees rise in loss

Kafkaz Development Bank sees rise in loss

21 October 2009 16:58 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October1, Kafkaz Development Bank posted its assets at AZN 35.302 million, down 6.2% from a year ago.

Deposit portfolio declined by 60% year-on-year to AZN 4.045 million, loan book rose by 7.6% to AZN 29.944 million while consumer lending plunged by 51% to AZN 1.456 million.

Also, total equity capital fell by 9% to AZN 9.542 million and authorized capital stock remained steady at AZN 10 million.

As against a year ago, revenue plunged by 60% to AZN 1.147 million and expenditures fell by 30% to AZN 2.067 million. The bankâ€™s loss surged by 12-fold year-on-year to AZN 920 000.

The number of staff members reached 62.

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