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Gunay Bank sees 19% drop in assets

Gunay Bank sees 19% drop in assets

22 October 2009 15:02 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. As of October 1, Azerbaijan-based Gunay Bank posted its assets at AZN 31.910 million, up 19.4% from a year ago.

The bank said deposit portfolio increased by 4.7% to AZN 9.692 million, loan portfolio rose by 21% to AZN 27.889 million and consumer lending soared by a factor of 5.6 to AZN 6.925 million.

Total equity capital grew by 29.3% to AZN 13.852 million and authorized capital stood at AZN 10.892 million.

Revenue increased 22.3% year-on-year to AZN 4.011 million and expenditure decreased by nearly three-fold to AZN 1.142 million.

The bankâ€™s profit skyrocketed by a factor of 41 to AZN 2.945.

Owned by 10 individuals, Gunay Bank has been in operation since 1992.

The bank operates 1 branch, 1 bureau of exchange, 1 ATM and 1 POS terminal across the country.

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