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United Credit Bank increases net profit in 2010

01 February 2011 12:08 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2011, Azerbaijan-based United Credit Bankâ€™s assets stood at AZN 44.880 mln, up 7% from year earlier.

Bank says loan portfolio rose 12% to AZN 32.660 mln, including consumer lending soared 16.4% to AZN 13.708 mln. Deposit portfolio extended 13.3% to AZN 16.281 mln, as well term deposit surged 22.6% to AZN 10.753 mln and demand deposit slid 1.2% to AZN 5.527 mln.

Total capital advanced 2.6% to AZN 13.869 mln, including authorized capital remained unchanged at AZN 12.108 mln.

Income made AZN 5.983 mln,l up 9.9% from year ago, interest income climbed 7.6% to AZN 5.181 mln, non-interest income rose 27% to AZN 0.802 mln. Total expenditure gained 6% to AZN 5.669 mln, including interest expenditure increased by 24% to AZN 2.452 mln, non-interest expenditure went down 5.3% to AZN 3.217 mln. Profit soared by 4.3 times to AZN 0.314 mln, net profit went up 8.2 times to AZN 0.244 mln.

United Credit Bank has been in operation since 1996. The bank operates 6 branches, 5 ATMs and 39 POS-terminals across the country.