Bank Of Baku

AGBank sees 64% decline in profit

AGBank sees 64% decline in profit
# 28 October 2010 13:30 (UTC +04:00)
Baku. Elnur Huseyhguluyev – APA-Economics. As of October 1, 2010, Azerbaijan-based AGBank’s assets stood at AZN 250.971 mln, up 10.1% compared with a year ago.

Bank says the deposit portfolio extended 21% to AZN 127.582 mln, population’s deposit soared 19% to AZN 112.960 mln, loan portfolio surged 10% to AZN 193.684 mln, consumer lending climbed 2.65% top AZN 12.683 mln.

Total capital slid 6% to AZN 33.553 mln, authorized capital remained unchanged at AZN 15 mln.
Income made AZN 29.481 mln, up 3.1% from year earlier. Expenditure gained 14% to AZN 28.054 mln. Profit dropped 64% to AZN 1.427 mln.

Staffs went up 8% to AZN 486, average monthly salary increased by 9.3% to AZN 940.

AGBank has been in existence since 1992. The bank operates 16 branches, 55 ATMs and 385 POS-terminals across the country.
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