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Bank SilkWay gets 91% rise in assets year-on-year

27 October 2011 10:42 (UTC +04:00)

Baku. ELnur Huseynguluyev â€“ APA-Economics. As of October 1, 2011, Azerbaijan-based Bank SilkWayâ€™s assets stood at AZN 95.646 mln, up 91% from previous year.

Bank says the deposit portfolio rose 4.7 times to AZN 93.697 mln, as well term deposits soared 4.1 times to AZN 12.992 mln, demand deposits quintupled to AZN 26.705 mln, populationâ€™s deposit surged 4.8 times to AZN 12.761 mln.

Loan portfolio slipped 8% to AZN 31.558 mln, including consumer lending climbed 20% to settle at AZN 5.424 mln, loans given for up to 12 months decreased by 19% to AZN 13.781 mln, for over 12 months - closed up 2.5% at AZN 17.777 mln. Total capital gained 16% to AZN 39.898 mln, as well authorized capital raised 9% to AZN 35.090 mln.

Total incomes soared 46% to AZN 7.817 mln, including interest incomes surged 29% to AZN 4.955 mln, and non-interest incomes gained 90% to AZN 2.862 mln.

AT the same time, expenditures rose 68% to AZN 3.853 mln, as well interest expenses rose 25% to AZN 939,000, and non-interest expenditures ended up 88% at AZN 2.839 mln. Consequently, profit increased by 2.3 times to AZN 3.955 mln.

Remind that, Bank SilkWay has been in operation since 1993. THE bnak operates 8 branches, 19 ATMs and 34 POS-terminals across the country.