Bank Of Baku

AGBank’s assets rise by 18%

AGBank’s assets rise by 18%
# 21 July 2010 09:02 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, 2010, Azerbaijan-based AGBank’s assets stood at AZN 210.296 mln, up 17.6% compared with a year ago.

Bank says the deposit portfolio decreased by 17.7% to AZN 106.707 mln, population’s deposit dropped 21% to AZN 88.503 mln, loan portfolio slid 12.3% to AZN 163.849 mln, consumer lending rose by 16% to AZN 11.776 mln.

Total capital fall 7.2% to AZN 30.816 mln, authorized capital stood unchanged at AZN 15 mln.

Income came down by 3.5% to ANZ 19.301 mln, expenditure declined 15% to AZN 16.063 mln. Profit tripled to AZN 3.239 mln. Staffs dropped 10% to AZN 441, average monthly salary decreased by 11% to AZN 800.

AGBank has been in operation since 1992. The bank operates 16 branches, 55 AYMs and 387 POS-terminals across the country.
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