Bank Of Baku

Azerdemiryolbank gets 37% rise in term deposit portfolio within three months

Azerdemiryolbank gets 37% rise in term deposit portfolio within three months
# 24 November 2008 13:59 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Within the scope of new deposit products launched in August, Azerdemiryolbank got a rise in its individual term deposit portfolio to AZN 41.62 million.
The bank said the deposit portfolio grew by 36.74% with the opening of 1 170 deposit accounts of AZN 15.29 million.
The bank launched four deposit products called “Goy”, “Sari”, “Yashil” and “Girmizi” on August 19.
As of October 1, Azerdemiryolbank’s assets stood at AZN 226.6 million, loan portfolio at AZN 171.7 million, deposit portfolio at AZN 63.91 million, total capital at AZN 34.13 million and authorized capital at AZN 13.4 million.
Azerdemiryolbank has been in operation since 1989. The European Bank for Reconstruction and Development (EBRD) holds a 25%+1 stake in the bank, leaving 10% to the Netherlands Development Finance Company (FMO), 10% to legal entities and the rest to about 850 individuals.
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