SilkWay Bank gets 52% rise in assets year-on-year

SilkWay Bank gets 52%  rise in assets year-on-year
# 13 May 2010 07:40 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, 2010, Azerbaijan-based SilkWay Bank’s assets stood at AZN 46.179 mln, up by 52% compared with a year ago.

Bank says, deposit portfolio rose by 17.2% to AZN 8.292 mln, population’s deposit down by 63.3% to AZN 245 000. Loan portfolio doubled to AZN 30.680 mln, consumer lending 47.5% increased to AZN 3.671 mln.

Total capital grew by 13.7% to AZN 23.167 mln, authorized capital remained unchanged at AZN 20 mln.

The revenue of bank soared 70% to AZN 2.025 mln, expenditure surged 47.6% to AZN 1.504 mln. Bank’s profit tripled to AZN 521 000.

Staffs 58.2% increased to AZN 106, average monthly salary rose by 11.3% to AZN 944, during this period.

SilkWay Bank was established in 1993 as Azal Bank. The bank operates 9 branches across the country.
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