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Azerbaijan Industry Bank gets a 43% rise in assets

26 October 2009 10:59 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan Industry Bankâ€™s assets stood at AZN 107.664 million, up 42.5% from a year ago.

The bank said deposit portfolio more than doubled to AZN 72.639 million, loan portfolio increased by 91% to AZN 64.272 million, total equity capital went up by 33.1% to AZN 53.591 million and authorized capital grew by 56.3% to AZN 20 million.

Consumer loans more than doubled to AZN 26.492 million.

Revenue fell by 23.8% year-on-year to AZN 6.290 million and expenditures jumped by 34% to AZN 6.497 million.

The bank had a loss of AZN 207 000 for January-September.

The bank established 3 branches, 5 ATMs and 88 POS terminals over the past one year.

The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.

It operates 8 branches, 23 ATMs and 255 POS terminals across the country.