Finance

Finance

Bank Standard posts 72% year-on-year rise in deposits

22 October 2009 12:45 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-ECONOMICS. As of October 1, Azerbaijan-based Bank Standard posted its assets at AZN 517.655 million, down 21.7% from a year ago.

The bank said loan portfolio decreased by 23%, year-on-year, to AZN 340.121 million, deposit portfolio rose by 72% to AZN 297.465 million.

Consumer lending plunged by 42% to AZN 62.311 million.

As against a year earlier, the bankâ€™s total equity capital grew by 3.5% to AZN 82.929 million and authorized capital went up 29% to AZN 64.6 million.

Revenue dropped by 27% to AZN 59.733 million and expenditures decreased by 14.3% to AZN 46.986 million.
The bankâ€™s profit for the past one year fell by 53% to AZN 12.747 million.

The bank established 1 branch, 4 ATMs and 38 POS terminals over the past one year.

Bank Standard, owned by AB Standard, has been in operation since 1995.
It operates 17 branches, 54 ATMs and 430 POS terminals across the country.