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Bank SilkWay gets 72% rise in assets

25 July 2011 15:02 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, 2011, Azerbaijan-based Bank SilkWayâ€™s assets stood at AZN 82.212 mln, up 72% from year earlier.

Bank says the deposit portfolio rose 2.3 times to AZN 30.934 mln, as well term deposit soared 10.4 times to AZN 4.479 mln, demand deposits increased by 11% to AZN 18.988 mln, populationâ€™s deposits surged 3.9 times to AZN 6.967 mln.

Bankâ€™s loan portfolio decreased by 14% to AZN 30.532 mln, as well consumer lending climbed 31% to AZN 4.966 mln, loan given for until 12 months dropped 36% to AZN 10.959 mln, loans given for over 12 months gained 5.7% to settle at AZN 17.416 mln. At the same time, total capital grew 64% to AZN 38.746 mln, as well authorized capital soared 58% to AZN 35.090.

Note that, income rose 62% to ANZ 5.363 mln including interest rates increased by 29% to AZN 3.207 mln, non-interest income rose 2.6 times to AZN 2.156 mln. Expenditures approximately rose 68% to AZN 2.729 mln, as well interest expenses dropped 2.4% to AZN 527,000, non-interest expenses doubled to AZN 2.202 mln. Profit doubled to AZN 2.865 mln.

Staffs remained unchanged at 104 persons, average monthly salary rose 4.1% to ANZ 1,027.

Remind that, Bank SilkWay has been in operation since 1993. The bank operates 8 branches, 19 ATMs and 324 POS-terminals across the country.