Finance

Finance

International Bank of Azerbaijan sees 32% rise in profit

25 February 2010 11:22 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, International Bank of Azerbaijan posted its assets at AZN 5 071.879 million, 16.07% up from a year ago.

The Bank told APA that deposit portfolio decreased by 20.49% to AZN 1 997.558 million, while loan portfolio rose by 33.69% to AZN 3 911.718 million, consumer lending grew by 6.97% to AZN 335.460 million. The total equity capital went up by 19.21% to AZN 498.989 million and authorized capital by 26.49% to AZN 240 million.

The bankâ€™s revenue increased by 3.56% to AZN 421.578 million while expenditure declined by 7.82% to AZN 269.085 million. The profit grew by 32.37% to AZN 152.493 million year-on-year. The bank opened a new branch and installed 8 POS Terminals.

International Bank of Azerbaijan was established in 1992. 50.2% of shares belong to the state.
As of January 1, 2010 the bank operates 37 branches, 587 ATMs, 2 692 POS Terminals. The number of employees is 1 240 and clients 886 292.