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Xalg Bank gets 10% rise in assets

23 October 2009 14:50 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Xalg Bank posted its assets at AZN 441.5 million, up 9.4% from a year ago.

Deposit portfolio increased by 0.55% to AZN 300 million and loan portfolio reached AZN 323.5 million.

Mortgage loans more than doubled to AZN 8.7 million. Term deposits grew by 7.8% to AZN 226.6 million and deposits by individuals increased by 13.3% to AZN 180.3 million.

Total equity capital went up by 23% to AZN 70.4 million and paid-up capital stood at AZN 53.55 million.

As against a year ago, revenue reached AZN 29.6 million and expenditure AZN 16.4 million, generating a profit of AZN 13.2 million.

According to the financial performance, from January to September, Return on Equity (ROE) increased 23 percentage points to 24.18% and Return on Assets went up 2.9 percentage points to 3%.
The bank launched 3 branches, 7 ATMs and 11 POS terminals over the past one year.

Xalg Bank has been in operation since 2004. It operates 9 branches, 2 subbranches, 29 ATMs and 35 POS terminals across the country.