Bank Of Baku

Birlik Bank achieves 13% growth in assets

Birlik Bank achieves 13% growth in assets
# 19 August 2008 15:08 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of July 1, Azerbaijan-based Birlik Bank’s assets stood at AZN 36.448 million, up 12.7% from a year earlier.
The bank said loan portfolio increased 14% to AZN 27.696 million, deposit portfolio rose 16.7% to AZN 1.024 million, total capital went up 34.5% to AZN 15.359 million and authorized capital grew by 30% to AZN 13 million.
During the six months, revenues rose 31.3% to AZN 1.919 million and expenditures increased 37.4% to AZN 1.770 million. Gross profit increased 14.9 to AZN 149 000.
The number of the bank’s staff increased 78.3% to 41 and average salary fell 14.3% to AZN 80.
At present the bank operates 3 branches across the country.
Owned by 20 local individuals, the bank has been in operation since 1993.
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