AtaBank marks 15th anniversary

AtaBank marks 15th anniversary
# 20 November 2008 14:49 (UTC +04:00)
Baku. Elnur Huseynguluev - APA-Economics. Azerbaijan-based ATABank has celebrated its 15th anniversary.
Museyib Aliyev, Deputy Chairman of the bank, told a press conference that assets reached AZN 130.9 million as of November 1, up 18.2% on early this year.
“The loan portfolio grew by 28.3% and to AZN AZN91.5 million, deposit portfolio increased by 2.4% to AZN 76.5 million. Time deposits by individuals increased by 46.5% to AZN 51.4 million. Also, revenue increased by 62% to AZN 19.9 million,” he added.
He noted that the yield of assets reached 4.91% and yield of return reached 44.05%, up 3.58% and 27.5% respectively on the same period last year.
According to him, the bank will introduce Internet-Banking service under its 2008-2010 strategic plan.
“We will also improve marketing and advertising policy. One of our goals is to achieve the provision of non-stop banking services and to make available automated bank services,” he underlined.
Etibar Babashli, Deputy Chairman of the bank, said the bank continues to expand its branch coverage and improve lending policy.
He said under the strategic plan it is planned to open three branches next year.
He noted that a branch will be opened in Shenkir by the end of this year.
According to him, the bank’s loan portfolio is expected to increase 4.4% to AZN 95 million.
AtaBank has been in operation since 1993. It has 16 branches, 46 ATMs and 273 POS terminals across the country.
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