Azerdemiryolbank gets 37% year-on-year growth in assets

Azerdemiryolbank gets 37% year-on-year growth in assets
# 15 December 2008 13:45 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of December 1, Azerdemiryolbank’s assets stood at AZN 202.39 million, up 37.3% on a year earlier.
The bank said loan portfolio rose 60.3% to AZN 168.28 million and deposit portfolio increased 40.7% to AZN 166.38 million.
Obligations to the financial sector and international financial institutions accounted for 62.5% of the deposit portfolio.
Deposits put by individuals grew by 4.4% in November alone to AZN 53.83 million and term deposits stood at AZN 41.74 million.
The bank’s balance capital went up 23.6% to AZN 36.02 million, total capital stood at AZN 36.16 million and authorized capital at AZN 13.4 million.
The value of Azerdemiryolbanks’ fixed assets reached AZN 11.48 million as at December 1.
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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