Finance

Finance

DemirBank posts 19% year-on-year rise in assets

18 December 2009 12:57 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. DemirBankâ€™s assets as of December 1, 2009 amount 245.6 mln AZN, which exceeds the same indicator of previous year by 39.7 mln AZN or 19.3%. Volume of the loan portfolio also increase this year and reached 182.7 mln AZN.
Total value of customer deposits as of December 1, 2009 is equal to 80.1 mln AZN, which is a 36.8% or 21.6 mln AZN increase compared to the same period of the previous year.
Value of populationâ€™s deposits has reached 66.2 mln AZN, which represents a 59% or 24.6 mln AZN increase. This is another evidence of Bankâ€™s successful functioning.
As of December 1, 2009 DemirBankâ€™s charter capital amounted 16.4 mln AZN, while total regulatory capital reached 45.7 mln AZN.
One of the first banks of Azerbaijan, DemirBank (formerly called 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).