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Birlik Bankâ€™s profit surges

Birlik Bankâ€™s profit surges

26 October 2009 15:29 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Birlik Bankâ€™s assets stood at AZN 51.552 million, up 25% from a year ago.

The bank said deposit portfolio rose by 15.7% to AZN 1 million, loan portfolio increased by 15.2% to AZN 32.854 million, total capital went up by 7% to AZN 19.967 million and authorized capital stood at AZN 16 million.

Consumer lending plunged by 30% to AZN 4.037 million.

Revenue soared by 85% to AZN 4.703 million and expenditure increased 36.8% to AZN 2.947 million. Gross profit surged by a factor of 4.5 to AZN 1.756 million.

The number of staff increased by 19.2% to 42, and average salary rose by 20% to AZN 120.

At present the bank operates 3 branches across the country.
Owned by 20 local individuals, the bank has been in operation since 1993.

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