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Azerbaijanâ€™s largest bank gets 80% increase in assets

21 October 2008 12:43 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, International Bank of Azerbaijan’s assets stood at AZN 4 208.654 million, up 79.5% on a year earlier.
The bank said loan portfolio more than doubled to AZN 2 631.728 million, deposit portfolio jumped 65.1% to AZN 2 367.476 million, total capital went up 21% to AZN 328.794 million and authorized capital jumped 32.8% to AZN 130.078 million.
Consumer loans grew 65.1% to AZN 315.706 million and peopleâ€™s savings rose 30% to AZN 463.261 million.
Revenue for January-September increased by 49% over the past year to AZN 104.165 million and expenditures rose by 47.4% to AZN 74.935 million.
Profit rose 53.4% to AZN 29.230 million.
The bank established 9 ATMs and 33 POS terminals over the past year. The number of employees fell 2.2% to 1 310.
As Azerbaijanâ€™s and the regionâ€™s largest bank, the International Bank of Azerbaijan with a governmentâ€™s 50.2% stake is owned by the bank staff (10%) and private shareholders (40%).
The bank operates 36 branches, 1 bureaux de change, 589 ATMs, 63 information kiosks and 2 633 POS-terminals.