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Azerbaijan Industry Bank to raise assets by 23%

Azerbaijan Industry Bank to raise assets by 23%

15 September 2008 10:41 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan Industry Bank intends to raise its assets by 23.3% to AZN 100 million in the second half this year.
Hasan Incekara, Chairman of the Bank, said there also will be an 18% rise in loan portfolio to AZN 65 million and a 12$ increase in deposit portfolio to AZN 75 million.
It is also planned to increase the number of employees to 180 from 145.
The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.
As at July 1, assets stood at AZN 81.121 million, loan portfolio at AZN 47.819 million, deposit portfolio at AZN 47.853 million, total capital at AZN 19.265 million and authorized capital at AZN 12.8 million.
The bank operates 5 branches, 16 ATMs and 100 POS terminals across the country.

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