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Azerdemiryolbank gets 52% year-on-year growth in assets

Azerdemiryolbank gets 52% year-on-year growth in assets

07 January 2009 16:08 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerdemiryolbankâ€™s assets stood at AZN 224.698 million, up 52.4% on a year earlier.
The bank said loan portfolio rose 61% to AZN 168.592 million, deposit portfolio decreased 3.6% to AZN 49.497 million, total capital increased by 30.5% to AZN 37.398 million and authorized capital went up 28.8% to AZN 13.4 million.
Revenue for the year rose 76.6% to AZN 41.506 million and expenditures increased by 82.7% to AZN 30.880 million. Profit went up 61% to AZN 10.626 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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