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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 â€“ APA-Economics. As of December 1, Azerdemiryolbankâ€™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 bankâ€™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 Azerdemiryolbanksâ€™ 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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