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Kafkaz Development Bank sees 28% decline in loss

09 February 2011 12:51 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Econmics. As of January 1, 2011, Azerbaijan-based Kafkaz Development Bankâ€™s assets stood at AZN 33.514 mln, down 6.4% from year earlier.

Bank says the deposit portfolio declined 28.2% to AZN 3.151 mln, including populationâ€™s deposit rose 2.6 times to AZN 1.074 mln, demand deposit dropped 48% to AZN 2.077 mln. Loan portfolio fell 4.6% to AZN 28.780 mln, as well consumer lending soared 19% to AZN 1.804 mln, loan givent for until 12 months slipped 35% to AZN 5.551 mln, for over 12 months advanced 7.5% to AZN 23.229 mln, overdue credits decreased by 1.6% to AZN 1.496 mln. Loa given through AMF slid 4.8% to AZN 179 thousand, through bankâ€™s program grew 49% to AZN 814.7 thousand.

Total capital abated 8.2% to AZN 8.715 mln, including authorized capital remained unchanged at AZN 10 mln.

Income fell 10.2% to AZN 1.438 mln, expenditure reduced 17% to AZN 2.136 mln. Profit slid 28% to AZN 698 000.

Kafkaz Development Bank has been in operation since 1996. The bank operates 2 branches across the country.