Bank Of Baku

Kredo Bank sees 49% growth in assets

Kredo Bank sees 49% growth in assets
# 03 November 2010 14:50 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, 2010, Azerbaijan-based Kredo Bank’s assets stood at AZN 86.145 mln, up 49% in comparison to a year ago.

Bank says the deposit portfolio decreased by 16.3% to AZN 15.550 mln, population’s deposit by 31% to AZN 9.094 mln. Loan portfolio soared 87% to AZN 63.212 mln, consumer lending surged 9.2% to AZN 8.613 mln.

Total capital climbed 15% to AZN 15.962 mln, authorized capital stood steady at AZN 13.040 mln.

Income made AZN 7.192 mln, during the period of report, up 77% from year earlier. Expenditure grew 70% to AZN 6.793 mln. Profit rose by 8.3 times to AZN 0.399 mln.

Staffs raised 9% to 170, average monthly salary ended up 5% to AZN 288.

Kredo Bank has been in operation since 1994. The bank operates 14 branches, 5 ATMs and 44 POS-terminals across the country.
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