Bank Of Baku

Kauthar Bank gets 26% rise in assets

Kauthar Bank gets 26% rise in assets
# 29 October 2010 11:10 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, 2010, Azerbaijan-based Kauthar Bank’s assets stood at AZN 21.843 mln, up 26% compared with year ago.

Bank says the deposit portfolio extended 3.1% to AZN 3.165 mln, population’s deposit decreased by 30% to AZN 1.307 mln. Total company rose 22% to AZN 12.491 mln, authorized capital ended up 20% at AZN 12.020 mln.

Income dropped 10% to AZN 1.560 mln, expenditure fell 13.3% to AZN 1.480 mln. Profit rose by 3.1 times to AZN 79.7 thousand.

Kauthar Bak has been in operation since 1989. The bank operates 2 branches, 1 ATM and 25 staffs. The bank operates on Islamic principles.
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