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Azerdemiryolbank gets 54% growth in assets

23 October 2008 12:34 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerdemiryolbankâ€™s assets stood at AZN 226.6 million, up 53.7% on a year earlier.
The bank said loan portfolio rose 63.6% to AZN 171.7 million, deposit portfolio increased 24.4% to AZN 63.91 million, total capital went up 21% to AZN 34.13 million and authorized capital jumped 28.8% to AZN 13.4 million.
Loans to leasing transactions accounted for AZN 3.8 million of the loan portfolio.
Liabilities reached AZN 191.8 million and term deposits made AZN 40.8 million.
Compared to the same period last year, revenue for January-September made AZN 46.4 million and expenditures reached AZN 31.4 million.
Profit for nine months rose to AZN 15 million.
Azerdemiryolbank has been in operation since 1989. The European Bank for Reconstruction and Development (EBRD) holds a 25%+1 stake in the bank, leaving 10% to the Netherlands Development Finance Company (FMO), 10% to legal entities and the rest to about 850 individuals.