Gandjabank achieves 24% growth in assets

Gandjabank achieves 24% growth in assets
# 28 October 2008 12:48 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, Azerbaijan-based Gandjabank’s assets stood at AZN 29.544 million, up 23.9% on a year earlier.
The bank said loan portfolio rose 22.8% to AZN 26.374 million, deposit portfolio increased 41.5% to AZN 3.920 million, total capital went up 14.7% to AZN 12.049 million and authorized capital stood at AZN 10 million.
Consumer loans grew 9.77 times to AZN 7.738 million.
Compared to the same period last year, revenue for January-September increased by 51% over the past year to AZN 4.221 million and expenditures rose by 14.7% to AZN 3.378 million.
Profit reached AZN 0.842 million while there was a loss of AZN 0.149 million in the same period last year.
The bank established 1 branch, 2 ATMs and 1 POS terminal over the past one year.
The number of employees rose 10.3% to 75 and salary increased by 9.2% to AZN 533 on average.
Established in 1994, Gandjabank is the first regional bank based in Gandja.
It operates 3 branches (Gandja, Kepez and Shemkir), 3 ATMs and 1 POS-terminal.