Finance

Finance

DemirBank posts 21% year-on-year rise in assets

20 November 2009 11:29 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. DemirBankâ€™s assets as of November 1, 2009 amount 256.3 mln AZN, which exceeds the same indicator of previous year by 43.8 mln AZN or 20.6%. Volume of the loan portfolio also increase this year and reached 187.8 mln AZN.
Total value of customer deposits as of November 1, 2009 is equal to 90.6 mln AZN, which is a 63.5% or 35.2 mln AZN increase compared to the same period of the previous year.
Value of populationâ€™s deposits has reached 63.6 mln AZN, which represents a 56.3% or 22.9 mln AZN increase. This is another evidence of Bankâ€™s successful functioning.
As of November 1, 2009 DemirBankâ€™s charter capital amounted 16.4 mln AZN, while total regulatory capital reached 45.5 mln AZN.
One of the first banks of Azerbaijan, DemirBank (formerly known as Azerdemiryolbank) started its operations 20 years ago in October 1989. Shareholders of the Banks include large international financial institutions, such as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).