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United Credit Bank gets 14% growth in assets year-on-year

23 August 2011 11:04 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, 2011, Azerbaijan-based United Credit Bankâ€™s assets stood t AZN 46.167 mln, up 14% from previous year.

Bank says the loan portfolio rose 11% to AZN 34.488 mln, as well consumer lending soared 22% to AZN 14.819 mln, troubled loans enhanced 32% to AZN 4.863 mln.

Deposit portfolio extended 31% to AZN 17.347 mln, as well term deposits surged 46% to AZN 14.770 mln, demand deposits decreased by 17% to AZN 2.332 mln, populationâ€™s deposit gained 30% to settle at AZN 11.915 mln.

Total capital grew 16% to AZN 14.503 mln, including authorized capital remained unchanged at AZN 12.108 mln.

Income rose 12.6% toi AZN 3.017 mln, as well interest income soared 18% to AZN .802 mln, non-interest income dropped 29% to AZN 0.215 mln. Total expenditure slipped 36% to AZN 2.472 mln including interest expenses rose 12.8% to AZN 1.367 mln, non-interest expenditure shed 55% to AZN 1.105 mln. Profit made AZN 0.545 mln during first half of 2011.

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.