Finance

Finance

Zamin Bank achieves 30% drop in deposits

29 October 2009 14:00 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Zamin Bank posted its assets at AZN 162.066 million, up 36% from a year ago.

The bank said deposit portfolio dropped by 28% to AZN 27.614 million while loan portfolio increased by 42% to AZN 103.847 million.

Total equity capital grew by 21.6% to AZN 17.397 million and authorized capital stock rose by 17.9% to AZN 13.194 million.

Consumer lending more than doubled to AZN 24.070 million.

Revenue dropped by 13% year-on-year to AZN 12.807 million and expenditure went down by 20% to AZN 10.692 million. Profit jumped by 61% year-on-year to AZN 2.115 million.

The bank established 10 branches, 5 ATMs and 938 POS terminals over the past one year.

Established in 1992, Zamin Bank operates 30 branches, 6 offices, a representative office in Mosocw, 28 ATMs and 1 891 POS terminals across the country.