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Bank of Azerbaijan expects 30% rise in assets

Bank of Azerbaijan expects 30% rise in assets

22 September 2008 09:05 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Bank of Azerbaijan expects a 30.4% rise in assets to AZN 120 million, said Muslum Mursalov, Chairman of the Bank.
He added that loan portfolio is expected to grow by 35% to AZN 100 million and deposit portfolio by 14.3% to AZN 40 million.
According to him, the number of plastic cards in active use will rise fivefold to 10 000.
As at July 1, the bankâ€™s assets stood at AZN 105.109 million, loan portfolio at AZN 89.130 million, deposit portfolio at AZN 45 million, total capital at AZN 45.915 million and authorized capital at AZN 10 million.
Bank of Azerbaijan has been in operation since 1993. The bank has 18 branches, including 5 in regions.

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