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United Credit Bank gets 83% rise in deposit portfolio

13 October 2008 14:01 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. As of October 1, Azerbaijan-based United Credit Bankâ€™s assets stood at AZN 33.514 million, up 59% on the same period last year.
Vahid Aliyev, Deputy Chairman of the Bank, said loan portfolio rose 36% to AZN 22.167 million, deposit portfolio increased 84.3% to AZN 8.675 million, total capital grew 5% to AZN 13.428 million and authorized capital stood at AZN 12.108 million.
Consumer loans increased 5.4% to AZN 8.806 million.
For January-September, revenue rose 47.3% to AZN 3.551 million and expenditures increased 30.3% to AZN 3.377 million.
The bankâ€™s profit was AZN 173 000, compared to a loss of AZN 182 000 last year. Over the past year, the bank paid AZN 100.3 million, up 92.5% on a year earlier.
The number of employees dropped 12.2% to 79 and salary rose 50% to AZN 753.
The bank operates 5 branches, 5 ATMs and 4 POS terminals across the country.
Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual bodies in 1996 and was renamed in 1998 as United Credit Bank.