Birlik Bank posts a 63% rise in assets

Birlik Bank posts a 63% rise in assets
# 24 October 2008 13:59 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, Azerbaijan-based Birlik Bank’s assets stood at AZN 42.246 million, up 63.4% on a year earlier.
The bank said loan portfolio rose 14.6% to AZN 28.520 million, deposit portfolio increased 12.9% to AZN 0.864 million, total capital went up 62.5% to AZN 18.661 million and authorized capital grew 60% to AZN 16 million.
Consumer loans grew 24.6% to AZN 28.520 million.
Compared to the same period last year, revenue for January-September increased by 15.4% over the past year to AZN 2.545 million and expenditures rose by five times to AZN 2.154 million.
Profit grew 78% to AZN 0.390 million.
The number of employees rose by 57.6% to 52 and salary doubled to AZN 200 on average.
Owned by 20 local individuals, Birlik Bank has been in operation since 1993. It operates 3 branches across the country.
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