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Kafkaz Development Bank sees 85% growth in long-term lending

10 February 2012 09:37 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2012, Azerbaijan-based Kafkaz Development Bankâ€™s loan portfolio stood at AZN 53.160 mln, up 85% from year earlier.

Bank says the short-term loans (with the term of up to 12 months) rose 80% to AZN 8.227 mln, long-term loans increased by 85% to AZN 44.933 mln, consumer lending increased by 2.8 times to AZN 5.010 mln. Loans given through AMF â€“ by 18% to AZN 215,345,000, through own mortgage program â€“ by 20% to AZN 527,072,000, overdue credits dropped 38% to AZN 929,000.

Deposit portfolio grew up 93% to AZN 45.835 mln, as well term deposits slipped 43% to AZN 9.288 mln, demand deposits rose by 5.2 times to AZN 32.612 mln, populationâ€™s deposits rose by 3.2 times to AZN 3.395 mln.

Remind that, Kafkaz Development Bank has been in operation since 1996. Teh bank operates 2 branches and 57 staffs across the country.