Finance

Finance

Unibank sees 16% drop in assets

25 January 2010 15:59 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. The retail deposits that Unibank acquired in 2009 amounted to AZN 137,931 mn representing an increase by AZN 14.26 mn or 11.53% from 2008.
The retail deposits including the balance in the settlement and current customer accounts reached the historic maximum of AZN 94,526 mn ($117.72 mn) at the end of 2009, which represents the annual increase by AZN 13.51 mn or 16.68%. The term retail deposits excluding the current accounts equalled AZN 77,466 mn or almost $96.5 mn on 30 December 2009.
It is noteworthy that the retail deposits had the rapid growth dynamics in H209 with the periodâ€™s growth by almost 45% and the increase in the number of deposit transactions by 25%. The retail deposits in the six provincial branches of Unibank in the towns of Sumgait, Sheki, Guba, Gyanja and Shamkir rose by 79.5% on the average and the number of depositors rose by 43% in H209.
Being one of the first members of the Deposit Insurance Fund, Unibank makes 170 deposit transactions totalling at AZN 9,9 mn as the monthly average. Retail deposits in Unibank rise by AZN 1,117 every minute thanks to the stable customer base and the successful promotion of the deposit products of the bank.
The assets, loan portfolio and consolidated capital of Unibank Commercial Bank equalled, respectively, AZN 352,949 mn, AZN 244,537 mn (including the consumer loans totalling AZN 134,86 mn) and AZN 59,460 mn on 30 December 2009.
It should be remembered that the service network of Unibank consists of 25 branches and outlets, and operates from 7 towns of Azerbaijan currently. The bank has more than 123,000 retail and corporate customers at present.