Bank Of Baku

Kavkaz Development Bank gets 40% rise in Q1 assets

Kavkaz Development Bank gets 40% rise in Q1 assets
# 24 April 2012 09:17 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, 2012, Azerbaijan-based Kavkaz Development Bank’s assets stood at AZN 62.008 mln., up 40% from year earlier.

Bank says deposit portfolio rose 27% to AZN 9.270 mln, loan portfolio soared 43% to AZN 55.615 mln.

Total capital grew 48% to AZN 14.432 mln, as well authorized capital increased by 40% to AZN 14 mln.

Number of clients dropped 70% to 1,515, including individuals slipped 79% to 940, legal entities – surged 5.5% to 575.

Remind that, owned by Azerbaijani, US, German, Georgian and Russian enterprises, banks and individuals Kavkaz Development Bank has been in operation since 1996. The bank operates 2 branches and 59 staffs.
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