Finance

Finance

Term deposits of individuals in DemirBank increased by 73%

30 March 2010 14:57 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. DemirBankâ€™s assets as of March 1, 2010 amount 264.9 mln AZN, which exceeds the same indicator of previous year by 50.7 mln AZN or 23.7%. Volume of the loan portfolio also increase this year and reached 178.9 mln AZN.

Total value of customer deposits as of March 1, 2010 is equal to 89.9 mln AZN. Value of populationâ€™s deposits has reached 75.5 mln AZN, which represents a 73.3% or 31.9 mln AZN increase.

As of March 1, 2010 DemirBankâ€™s charter capital amounted 18.4 mln AZN, while total regulatory capital reached 48.2 mln AZN.

One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations 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).