Kauthar Bank sees 34% growth in deposit portfolio

Kauthar Bank sees 34% growth in deposit portfolio
# 11 May 2010 14:30 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, 2010, Azerbaijan-0based Kauthar Bank’s assets stood at AZN 18.024 mln, up by 7% compared with a year ago.

Bank says, deposit portfolio rose by 33.9% to AZN 3.319 mln, population’s deposit grew by 2.4 times to AZN 1.923 mln. Total capital 2.4% increased to AZN 10.484 mln, authorized capital remained unchanged at AZN 10.020 mln.

Revenue surged by 3.1 times to AZN 0.487 mln, expenditure soared by 2.9 times to AZN 0.415 mln. Profit rose by 6.1 times to AZN 0.072 mln.

Kauthar Bank was established in 1989 as Universal Bank. The bank operates 2 branches, 2 ATMs and 25 staffs. The bank also operates on Islamic principles.
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