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DemirBank posts rise in deposits

DemirBank posts rise in deposits

24 February 2010 14:06 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. DemirBankâ€™s assets as of February 1, 2010 stood at AZN 261.6 million, up 20.4% from a year ago. Volume of the loan portfolio increased by 11.75% to AZN 187.3 million, said the bank.
Total value of customer deposits as of February 1, 2010 is equal to AZN 88.5 million.
Value of individual deposits has reached AZN 72.5 million, which represents a 64.3% increase.
The bankâ€™s total equity capital stood at AZN 47.9 million and authorized capital AZN 18.4 million.
One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations 20 years ago in October 1989. Shareholders of the Banks include large international financial institutions, such as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).

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