Finance

Finance

Azerdemiryolbank gets 30% year-on-year increase in deposits

26 October 2009 15:59 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-ECONOMICS. As of October 1, Azerbaijan-based Azerdemiryolbank posted its assets at AZN 251.011 million, up 9% from a year ago.

The bank said deposit portfolio increased by 29% to AZN 86.258 million, loan book increased by 5% to AZN 180.289 million, and consumer lending went up by 3.1% to AZN 66.021 million.

The bankâ€™s total capital grew by 29.1% to AZN 45.350 million and authorized capital went up by 22.4% to AZN 16.4 million.

Revenue increased by 2.8% to AZN 29.387 million and expenditure rose by 25% to AZN 24.945 million. Profit dropped by 48.5% year-on-year to AZN 4.442 million.

Azerdemiryolbank has been in operation since 1989. The European Bank for Reconstruction and Development (EBRD) holds a 25%+1 stake in the bank, leaving 10% to the Netherlands Development Finance Company (FMO), 10% to legal entities and the rest to about 850 individuals.