Bank Standard reports about financial performance in January-September

Bank Standard reports about financial performance in January-September
# 28 October 2008 15:10 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s Bank Standard has held a press conference on the financial performance in January-September this year.
Javid Guliyev, Vice-Chairman of the Bank, said there was remarkable growth in financials.
“Over the past year, assets grew by 18% to AZN 660.816 million, deposit portfolio increased by 10.8% to AZN 173.036 million and loan portfolio rose by 36% to AZN 441.570 million,” he added.
Javid Guliyev underlined the share capital rise and implementation of Temonos T24 (T24) banking software as main achievements.
«By increasing the authorized capital to AZN 65 million, Bank Standard became the 3rd bank in the country in terms of this indicator,” he noted.
Jahangir Akhundov, Director of Customer Services Department, added that the bank received syndicated loans of $28 million in total during the nine months.
In addition, the bank received a license to provide Visa International services and increase the number of POS-terminals 392.
He said the first phase of T24 software implementation is about to complete.
The system, which went live in June 2008, has been implemented at three branches in Baku and Guba branch.
The software introduced in the 3 branches of the bank branch in Baku and Guba.
The bank deployed T24 with an extensive set of modules including foreign exchange, funds transfer, loans and deposits, money market, nostro reconciliation, trade finance, securities and portfolio management, teller and internet banking.