Finance

Finance

Azerbaijan Industry Bank sees deposit portfolio spiked by 2.5 times

27 January 2010 12:08 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan Industry Bankâ€™s assets stood at AZN 130.639 million, up 67.4% from a year ago.

The bank said deposit portfolio surged by 2.5 times to AZN 82.910 million, loan portfolio increased by 55.3% to AZN 61.20 0million, total equity capital went up by 53.2% to AZN 24.731 million and authorized capital grew by 56.3% to AZN 20 million.

Consumer loans tripled to AZN 24.731 million.

Revenue fell by 27.5% year-on-year to AZN 13.449 million and expenditure jumped by 32.5% to AZN 11.335 million.

The bank achieved a 7.2% year-on-year rise in profit to AZN 2.134 million.

The number of clients increased by 41.8% to 18 757, number of staff members rose by 41.2% to 150 and average monthly salary went up by 37.4% to AZN 257.

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

It operates 8 branches, 23 ATMs and 257 POS terminals across the country.