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Kafkaz Development Bank gets 2.3% decline in total capital

Kafkaz Development Bank gets 2.3% decline in total capital

20 October 2008 14:36 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Kafkaz Development Bankâ€™s assets stood at AZN 33.232 million, up 6.6% on a year earlier.
The bank said loan portfolio rose 8.3% to AZN 27.835 million, deposit portfolio increased 51.3% to AZN 2.535 million while total capital went down2.3% to AZN 10.490 million and authorized capital stood at AZN 10 million.
Consumer loans rose 2.6 times to AZN 2.953 million.
Revenue for January-September increased by 5.9% over the past year to AZN 1.366 million and expenditures rose by 51.4% to AZN 1.444million.
The bank had a loss of AZN 78 000 while profit was AZN 336 000 on the same period last year.
Established in April, 1996, the bank is owned by Azeri, US, German, Georgian and Russian ventures, banks, institutions and individuals.

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