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Khalg Bank achieves 2.4 times rise in assets

21 August 2008 12:44 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, Azerbaijan-based Khalg Bankâ€™s assets stood at AZN 325.693 million, up 2.4 times from a year earlier.
The bank said loan portfolio increased by 2.4 times to AZN 262.105 million, deposit portfolio more than tripled to AZN 234.426 million, total capital declined 17.5% to AZN 41.885 million and authorized capital remained at to AZN 53.550 million.
As opposed to the same period last year, revenues increased by 2.8mes to AZN 19.587on and expenditures rose 3.6 times to AZN 29.469 million. The bankâ€™s loss jumped 8.7 times to AZN 9.882 million during January-June.
Over the past year, the bank established 4 branches, 3 ATMs and 5 POS terminals. The number of the bankâ€™s staff rose 53.4% to 204.
Owned by several legal entities, Khalg Bank has been in operation since 2004.
The bank operates 6 branches, 17 ATMs and 30 POS terminals across the country.