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Nikoil Bank achieves 3.5 times growth in assets

21 October 2008 13:11 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Nikoil Bankâ€™s assets stood at AZN 337.499 million, up 3.5 times on a year earlier.
The bank said loan portfolio doubled to AZN 150.752 million, deposit portfolio rose 50% to AZN 72.344 million, total capital went up 2.3 times to AZN 29.915 million and authorized capital jumped 2.2 times to AZN 22.5 million.
Consumer loans doubled to AZN 150.752 million.
Revenue for January-September doubled over the past year to AZN 21.743 million and expenditures doubled to AZN 18.598 million.
Profit more than doubled to AZN 3.150 million and net profit increased AZN 2.457.
The number of employees rose 21.2% to 257.
The bank established 3 branches and 4 ATMs over the past year.
Nikoil Bank is owned by Russiaâ€™s Uralsib Financial Corporation (61%), Uralsib Invest (19%) and Azerbaijanâ€™s ISR Holding (20%). The bank has been in operation since 1997.
It operates 10 branches, 14 ATMs and 61 POS-terminals.