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United Credit Bank gets 6% growth in assets

13 April 2011 07:37 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, 2011, Azerbaijan-based United Credit Bankâ€™s assets stood at AZN 43.162 mln, up 6% compared to a year ago.

Bank says the loan portfolio rose 11.4% to AZN 33.050 mln, consumption loan soared 13.5% to AZN 13.690 mln.

Deposit portfolio extended 6% to AZN 14.813 mln, including term deposits surged 28% to AZN 12.481 mln, demand deposits slipped 45% to AZN 2.332 mln.

At the same time, total capital climbed 12% to AZN 13.975 mln, including authorized capital remained unchanged at AZN 12.108 mln.

Note that, income grew 22.4% to AZN 1.458 mln, including interest income gained 28% to settle at AZN 1.374 mln, non-interest income dropped 30% to AZN 0.084 mln. At the same time, total expenditure shed 39% to AZN 1.371 mln, including interest expenditure went up to 8.8% to AZN 0.660 mln, non-interest income slid 57% to AZN 0.711 mln. As a result, the profit made AZN 0.087 mln. However, bankâ€™s loss made AZN 1.063 mln in January-March, 2010.

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