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â€œBank Standardâ€ CJSC CB summarizes first half year

30 July 2008 12:45 (UTC +04:00)

Baku. Nijat Mustafayev-APA-Economics. Azerbaijanâ€™s Bank Standard raised its aggregate assets to AZN 712.3 million, up 58% from the early year, the bank board senior deputy chair Jaid Guliyev told a press conference.
â€œLoan portfolio expanded 64% or AZN 439.1 million .Mortgage rates reached AZN12.8 million or 49% within Jan-June,â€ he said.
The funds in customer accounts reached AZN 250.9million with a 26% rise.
â€œThe deposits made by individuals totaled AZN 108.3million with 16% decrease.
Profit rose 50% to AZN 8.7 million,â€ he said.
Black Sea Trade and Development Bank allocated $8 million to the bank.
â€œWe have received $ 28 million syndicated credits from Africa-based Standard Bank and Citibank London Office. Credits will finance trade operations and cooperative clients,â€ he said.
The Banks Customs Services Officer, Jahangir Akhundov addressing the event noted that agreement was signed with Ernst & Young consulting firm in bank risk management and professional consulting services in February, 2008.
â€œThe project aims to improve bank risk management and qualify risk managers,â€ he said. Akhundov added that first stage of the project has been concluded and the second stage will be ended soon.
Bank Standard was established in Azerbaijan in 1995. Bank Standard raised its assets to AZN 100 million in April, 2008.