Bank Of Baku

Parabank achieves 58% rise in assets

Parabank achieves 58% rise in assets
# 24 July 2008 12:50 (UTC +04:00)
BAKU. Elnur Huseynguluyev – APA-Economics. As of July 1, Azerbaijan-based Parabank’s assets stood at AZN 56.5 million, 58% up from a year earlier.
The bank’s loan portfolio rose 55.6 % to AZN 33.79 million, consumption credits reached AZN3.5 million. Deposit portfolio rose 65.2% to AZN 30.43, fixed deposit doubled to AZN 29.30 million.
Revenues tripled and expenditures increased 2.9 times. Profit jumped 62% to AZN 523,000 and the bank netted AZN 386,000.
Parabank installed 23 POS terminals in 2007.
Owned by 23 individuals, Parabank has been in operation since 1991. The bank operates 8 branches, 5 ATMs and 65 POS terminals.
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