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Standard & Poorâ€™s affirms AGBankâ€™s rating with stable outlook

Standard & Poorâ€™s affirms AGBankâ€™s rating with stable outlook

24 December 2009 17:00 (UTC +04:00)

Baku. Vahab Rzayev - the APA-ECONOMICS. Standard & Poor’s has affirmed Azerbaijanâ€™s AGBank at B-/Stable/C, said AGBank in a statement.

The bank said assets increased by 15% to AZN 287.7 million, loan portfolio grew by 19% to $189.2 million, and individual deposits went up by 30% to AZN 82 million during 2009.

As of October 1, the bankâ€™s deposit portfolio stood at AZN 105.5 million, total capital at AZN 35.724 million, and paid-up capital at AZN 15 million. The bank operates16 branches, 55 ATMs and 450 POS-terminals across the country.

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