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Azerbaijan Credit Bank achieves a 5% rise in assets

Azerbaijan Credit Bank achieves a 5% rise in assets

26 October 2009 15:09 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan Credit Bank posted its assets at AZN 27.394 million, up 5% from a year ago.

Deposit portfolio decreased by 17.9% to AZN 4.964 million, loan portfolio rose by 13% to AZN 26.487 million and consumer lending dropped by 35.5% to AZN 2.314 million, said the bank.

Total equity capital rose by 12% to AZN 12.653 million and paid-up capital remained unchanged at AZN 10.205 million.

As compared a year ago, revenue decreased by 28.6% to AZN 0.933 million and expenditure dropped by 12% to AZN 0.612 million. Profit plunged by 47.7% to AZN 0.321 million. The number of staff decreased by 27.5% to 37, and average monthly salary rose by 54% to AZN 1 490.

Owned by 11 individuals, Azerbaijan Credit Bank has been in operation since 2005.

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