Bank Of Baku

Kauthar Bank’s deposit portfolio rises by 12% year-on-year

Kauthar Bank’s deposit portfolio rises by 12% year-on-year
# 20 August 2010 13:05 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, 2010, Azerbaijan-based Kauthar Bank’s assets stood at AZN 17.984 mln, up 5% compared with a year ago.

Bank says the deposit portfolio rose by 12.4% to AZN 3.197 mln, population’s deposit 7.2% decreased to AZN 1.648 mln. Total capital soared 2.9% to AZN 10.550 mln, authorized capital remained unchanged at AZN 10.020.

Income slipped 33.6% to AZN 0.986 mln, expenditure slid 42% to AZN 0.847 mln. Profit increased by 5.3 times to AZN 0.139 mln.

Kauthar Bank has been in operation since 1989. The bank operates on Islamic principles and 2 branches, 2 ATMs and 25 staffs.
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