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Kafkaz Development Bank sees 21% rise in assets

23 August 2010 12:12 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, 2010, Azerbaijan-based Kafkaz Development Bankâ€™s assets stood at AZN 39.288 mln, up 21.3% compared with a year ago.

Bank says the deposit portfolio rose by 28% to AZN 2.312 mln, populationâ€™s deposit decreased by 5.5% to AZN 426 000, loan portfolio climbed 15% to AZN 32.142 mln, consumer lending slipped 12% to AZN 1.469 mln.

Total capital slid 10% to AZN 8.939 mln, authorized capital remained unchanged at AZN 10 mln.

Income dropped 59% to AZN 314 000, expenditure ended down 28% to AZN 913 000. Loss rose by 16% to AZN 598 000.

Owned by enterprises, banks, organizations of Azerbaijan, USA, Germany, Georgia and Russia and individuals Kafkaz Development Bank has been in operation since 1996. The bank operates 2 branches across the country.