Bank Of Baku

Kafkaz Development Bank increases lending by 22% year-on-year

Kafkaz Development Bank increases lending by 22% year-on-year
# 04 May 2011 13:48 (UTC +04:00)
Baku. Elnur HUseynguluyev – APA-Economics. As of April 1, 2011, Kafkaz Development Bank’s loan portfolio stood at AZN 38.797 mln, up 21.7% from year ago.

Bank says the loans given until 12 months decreased by 36.6% to AZN 5.597 mln, over 12 months rose 44% to AZN 33.199 mln, consumer lending soared 41% to AZN 2.204 mln.

Loans given via AMF slipped 4.8% to AZN 177.46 thousand, via own program – gained 65.7% to AZN 883,000.

Overdue credits dropped 0.6% to AZN 1.491 mln.

Remind that, owned by Azerbaijan, USA, Germany, Georgia and Russia Kafkaz Development Bank has been in operation since 1996. The bank operates 2 branches across the country.
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