Bank of Azerbaijan predicts 30% growth in assets

Bank of Azerbaijan predicts 30% growth in assets
# 18 December 2008 12:56 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Bank of Azerbaijan predicts to achieve a 30.4% growth in assets to AZN 120 million by this yearend, said Khayal Sherifzade, Chairman of the Bank.
Accordign to the bank’s outlook, the loan book will rise 23% to AZN 90 million, deposit portfolio by 16.4% to AZN 41.5 million, total capital by 38.3% to AZN 20 million and authorized capital by 46.4% to AZN 14.635 million.
The bank predicts to get a 1.5 million in profit at the yearend.
As of October 1, Bank of Azerbaijan’s assets stood at AZN 110.384 million, loan portfolio at AZN 90.121 million, deposit portfolio at AZN 42.503 million, total capital at AZN 20.684 million and authorized capital at AZN 14.635 million.
Owned by NEM Holding and two individuals, Bank of Azerbaijan has been in operatin since 1993. The bank operates 18 branches, 35 bureaux de change, 22 ATMs and 122 POS-terminals.
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