Finance

Finance

Nikoil Bank sees 30% decline in assets

01 February 2010 13:41 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Nikoil Bank posted its assets at AZN 206.262 million, down 30% from a year ago.

The bank said deposit portfolio dropped by 7% to AZN 55.666 million and consumer loans fell by 23.3% to AZN 62.031 million. Loan portfolio increased by 12.4% to AZN 143.232 million.

Total equity capital increased by 2.7% to AZN 29.998 million and authorized capital remained at AZN 22.5 million.

As against a year ago, revenue for 2009 rose by 16.6% to AZN 39.565 million and expenditure grew by 17.2% to AZN 37.361 million. Profit grew by 7.4% year-on-year to AZN 2.203 million.

Nikoil Bank, owned by Russiaâ€™s Uralsib (61%), Uralsib Invest (19%) and ISR Holding (20%), has been in operation since 1997.

The bank has 13 branches, 24 ATMs and 60 POS terminals, 330 employees and 70 672 clients.