Finance

Finance

AGBank sees 13% rise in assets

12 February 2010 14:00 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based AGBank posted its assets at AZN 239.551 million, up 13.4% from a year ago.

The bank said deposit portfolio decreased by 10.7% to AZN 116.494 million, loan portfolio rose by 20.7% to AZN 186.558 million and consumer lending grew by 3.1% to AZN 12.496 million.

Total capital increased by 6.1% to AZN 31.802 million and authorized capital stock stood at AZN 15 million.

As against a year ago, revenue increased by 6.1% to AZN 36.701 million and expenditure rose by 38.5% to AZN 36.600 million. Profit dropped by 81 fold year-on-year to AZN 101 000.

The number of employees increased by 13.5% to 471 and average monthly salary grew by 16% to AZN 870 while number of clients rose by 8.73% to 87 037.

Established in 1992, AGBank operates 16 branches, 55 ATMs and 366 POS terminals across the country.