Finance

Home page

Finance

Royal Bank of Baku nearly triples assets

16 October 2008 13:28 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Royal Bank of Bakuâ€™s assets stood at AZN 100.473 million, up 2.7 times on a year earlier.
The bank said loan portfolio more than trebled to AZN 77.160, deposit portfolio more than tripled to AZN 34.387 million, total capital rose 42.1% to AZN 19.412 million and authorized capital grew by 29% to AZN 16.912 million.
Consumer loans rose by 2.9 times to AZN 64.318 million.
For January-September, revenues rose by 3.1 times to AZN 11.783 million and expenditures increased by 3.1 times to AZN 10.163 million. The bankâ€™s profit tripled to AZN 1.619 million.
The bank established 22 branches, 1 bureau de change, 16 ATMs and 59 POS terminals over the past year.
The number of employees more than doubled to 463 and monthly salary rose 76% to AZN 545 on average.
At present the bank operates 28 branches, 3 bureaux de change, 21 ATMs and 71 POS terminals across the country. Royal Bank of Baku was established by a U.S. citizen in 1993 as OZ Bank which was renamed in 2003.