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Rabitabank gets 10% rise in assets

Rabitabank gets 10% rise in assets

21 January 2010 12:55 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Rabitabank posted its assets at AZN 103.736 million, down 9.9% from a year ago.

Deposit portfolio rose by 10.3% to AZN 84.889 million, lending portfolio increased by 6.2% to AZN 72.710 million, while consumer loans plunged by 21.1% to AZN 18.222 million.

The bank said it saw a 6.7% rise in total equity capital to AZN 13.146 million and a 17.6% increase in the paid-in capital to AZN 10 million.

Revenue for the full year of 2009 fell by 14.5% year-on-year to AZN 14.171 million and expenditure dropped by 9.2% to AZN 13.885 million.
Profit fell by 77.6 to AZN 286 000.

The number of clients decreased by 26.6% to 37 567 and staff members increased by 2.2% to 322.
Established in 1993, Rabitabank operates 20 branches, 25 ATMs and 117 POS terminals across the country.

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