Bank Of Baku

Kafkaz Development Bank gets 80% rise in assets

Kafkaz Development Bank gets 80% rise in assets
# 02 February 2012 13:54 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of January 1, 2011, Azerbaijan-based Kafkaz Development Bank’s assets stood at AZN 60.739 mln, up 81% from year earlier.

Bank says deposit portfolio rose 92% to AZN 45.835 mln, loan portfolio – 85% to AZN 53.160 mln.

Total capital soared 39% to AZN 12.089 mln, as well authorized capital – 20% to AZN 12 mln.

Number of clients increased by 1% to 1,297, including individuals grew by 17% to AZN 741, legal entities – by 3.1% to AZN 556.

Remind that, Kafkaz Development Bank has been in operation since 1996. The bank operates 2 branches across the country.
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