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Gunay Bank sees a 10-fold decline in profit

16 October 2008 14:19 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Gunay Bankâ€™s assets stood at AZN 26.720 million, up 20% higher on a year earlier.
The bank said loan portfolio rose 34% to AZN 23.081 million, deposit portfolio increased 9.1% to AZN 9.258 million, total capital went up 0.7% to AZN 10.709 million and authorized capital jumped 8.1% to AZN 10.892 million.
Consumer loans rose 19.2% to AZN 124 000.
Revenues for January-September rose 30.5% to AZN 3.280 million and expenditures increased by 77.3% to AZN 3.208 million.
The bankâ€™s profit dropped nearly 10-fold over the past year to AZN 72 000. The number of the bankâ€™s employees reached 41 and average salary made AZN 373.
Gunay Bank, owned by 10 local individuals, has been in operation since 1992.
The bank operates 1 branch, 1 bureau de change, 1 ATM and 1 POS terminal.