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Kafkaz Development Bank extends crediting by 57% year-on-year

Kafkaz Development Bank extends crediting by 57% year-on-year

23 August 2011 10:41 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, 2011, Kafkaz Development Bankâ€™s loan portfolio stood at AZN 50.336 mln, up 56.6% from a year earlier.

Bank says during the reporting period, the volume of loans up to 12 months decreased by 41.5% to AZN 12.080 mln, the volume of loans issued for a period exceeding 12 months, increased 3.3 times to AZN 38.255 mln, consumption loans -2.1 times to AZN 3.076 mln.

The loans given through the Mortgage Fund, declined by 4.9% to AZN 175.14 mln, the amount of loans through its own program, increased by 81% to AZN 854 thousand, troubled loans rose 7.2 % to AZN 1.596 mln.

Remind that, Kafkaz Development Bank was established in April of 1996. The bank operates 2 branches across the country.

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