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Parabank sees 76% rise in profit

28 January 2011 08:44 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2011, Azerbaijan-based Parabankâ€™s assets stood at AZN 108.638 mln, up 22.7% from year earlier.

Bank says loan portfolio soared 23.9% to AZN 73.518 mln, as well consumer lending surged 24.1% to AZN 39.138 mln. Loans, given for 12 months advanced 21.3% to AZN 18.177 mln, for over 12 months â€“ rose 25% to AZN 55.240 mln, overdue credits climbed 36% to AZN 3.695 mln. Deposit portfolio extended 22% to AZN 63.775 mln, including populationâ€™s deposit gained 21% to AZN 61.890 mln.

Total capital increased by 13.92% to AZN 13.141 mln, including authorized capital by 14.90% to AZN 11.570 mln.

Revenue raised 38.7% to AZN 18.932 mln, expenditure climbed 37.8% to AZN 18.342 mln. Profit made AZN 591 000 during the same period, up 76% compared to a year ago.

Besides, bank established a branch, 7 ATMs and 12 POS-terminals. Staffs rose 31% to 461, average monthly salary soared 9.3% to AZN 354.

Owned by 23 individuals Parabank has been in operation since 1991. The bank operates 16 branches, 17 ATMs and 137 POS-terminals across the country.