Bank of Baku sees 58% growth in profit

Bank of Baku sees 58% growth in profit
# 22 July 2010 15:35 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, 2010, Azerbaijan-based Bank of Baku’s assets stood at AZN 216.418 mln, up 29% compared with a year ago.

Bank says the deposit portfolio rose by 50% to AZN 120.021 mln, loan portfolio 26.4% increased to AZN 154.241 mln, consumer lending grew 41.2% to AZN 126.298 mln. Total capital soared 7.1% to AZN 33.112 mln, authorized capital surged 89% to AZN 12.852 mln.

Income ended higher 22.5% to AZN 22.704 mln, expenditure went up 12.2% to AZN 16.128 mln. Profit accrued 58% to AZN 6.576 mln.

Bank of Baku has been in operation since 1994. The bank operates 15 branches, 26 ATMs and 201 POS-terminals across the country.
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