Bank Of Baku

Parabank gets 50% rise in assets

Parabank gets 50% rise in assets
# 30 October 2008 13:54 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, Azerbaijan’s Parabank posted its assets at AZN 62.1 million, up 50.2% on the same period last year.
The bank said deposit portfolio doubled to AZN 33.3 million, including deposits put by the population doubling to AZN 31 million.
Loan portfolio increased by 80.6% to AZN 39.2 million, including consumer loans of AZN 4.9 million.
Total capital reached AZN 11.7 million and authorized capital AZN 9.394 million.
For January-September, revenue reached AZN 15.3 million, including AZN 5.7 million in interest income and AZN 9.5 million in non-interest income.
Owned by 23 individuals, Parabank has been in operation since 1991. it operates 11 branches, 9 ATMs, 128 POS terminals and 1 687 plastic cards in use.
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