Bank Of Baku

Bank of Azerbaijan achieves 37% growth in assets

Bank of Azerbaijan achieves 37% growth in assets
# 21 October 2008 13:06 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, Bank of Azerbaijan’s assets stood at AZN 110.384 million, up 37.2% on a year earlier.
The bank said loan portfolio rose 36.2% to AZN 90.121 million, deposit portfolio jumped 76% to AZN 42.503 million, total capital went up 26.3% to AZN 20.684 million and authorized capital jumped 46.4% to AZN 14.635 million.
Consumer loans grew 29% to AZN 26.569 million.
Revenue for January-September increased by 2.2 times over the past year to AZN 18.029 million and expenditures rose by 3.4 times to AZN 15.589 million.
Profit declined 31.1% to AZN 2.444 million.
The number of employees rose 40.2% to 370 and salary increased 63% to AZN 896 on average.
Owned by NEM Holding and two individuals, Bank of Azerbaijan has been in operatin since 1993. The bank operates 18 branches, 35 bureaux de change, 22 ATMs and 122 POS-terminals.
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