Azerbaijan Industry Bank achieves 33% growth in assets

Azerbaijan Industry Bank achieves 33% growth in assets
# 22 October 2008 13:20 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, Azerbaijan Industry Bank’s assets stood at AZN 75.541 million, up 32.8% on a year earlier.
The bank said loan portfolio rose 94.3% to AZN 33.671 million, deposit portfolio decreased 7.4% to AZN 31.731 million, total capital went up 60.2% to AZN 17.730 million and authorized capital jumped 28% to AZN 12.8 million.
Consumer loans grew 2.8 times to AZN 11.758 million.
Compared to the same period last year, revenue for January-September increased by 2.6 times over the past year to AZN 8.256 million and expenditures rose by 3.1 times to AZN 4.846 million.
Profit grew 2.2 times to AZN 3.410 million.
The bank established 3 branches, 3 bureaus of exchange, 11 ATMs and 146 POS terminals over the past one year.
The number of employees nearly tripled to 157 and salary more than doubled to AZN 99 on average.
The bank paid AZN 983 000 in tax, up 2.2 times on last year.
The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.
It operates 5 branches, 6 bureaus of exchange, 18 ATMs and 167 POS-terminals.
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