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Azerbaijan Industry Bank gets 10% rise in loan book

Azerbaijan Industry Bank gets 10% rise in loan book

25 November 2009 15:38 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. Azerbaijan Industry Bank has achieved a 10% in the loan portfolio to AZN 71.195 million, said Ahmet Yeman, Chairman of the Board.

According to him, this year the bankâ€™s shareholders have allocated large sums, some of which were used to increase the bankâ€™s authorized capital stock, and the rest used to expand the loan portfolio.

"Besides, we have a deposit campaign which contributed to the increase of the deposit portfolio. Given the growth, we intend to lend these funds as loans for the country’s economy, population and the real sector ".

The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.

It operates 9 branches, 23 ATMs and 257 POS terminals across the country.

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