Finance

Finance

Royal Bank posts 42% growth in assets over the past 1 year

08 February 2010 07:47 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Royal Bankâ€™s assets stood at AZN 144.606 million, up 42% on a year ago.

The bank said loan portfolio rose by 31.5% to AZN 103.598 million, deposit portfolio by 76.7% to AZN 63.746 million, total equity capital increased by 18.8% to AZN 21.215 million and authorized capital stock grew by 21.9% to AZN 20.622 million.

Consumer lending grew by 30.4% to AZN 86.243 million.

Over the past one year, revenue increased by 45.7% to AZN 25.242 million and expenditure increased by 49% to AZN 25.713 million. In overall the bank faced the loss of AZN 471 000 last year.

The bank established 3 branches, 4 ATMs and 28 POS terminals over the past year.
The number of clients increased by 30.2% to 45 216, number of employees by 17% to 594 and monthly salary rose by 39.3% to AZN 574 on average.

At present the bank operates 31 branches, 8 bureau de change, 31 ATMs and 104 POS terminals across the country.

Royal Bank (so named in 2008) was established by a U.S. citizen in 1993 as OZ Bank which was renamed as Royal Bank of Baku in 2003.