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Deka Bank to raise capital this year

16 January 2009 07:42 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Deka Bank plans to raise its total capital by 4.4% to AZN 12 million during 2009, said Niyazi Veliyev, Chairman of the Bank.
According to him, the bank will also increase its authorized share capital by 15% to AZN 11.5 million.
â€œOur bank was not affected by the global financial crisis because we didnâ€™t borrow from the foreign markets. Our deposit and loan books remain intact. Deposit portfolio declined by AZN 300 only during November-December,â€ he added.
As of October 1, Deka Bankâ€™s assets stood at AZN 27.414 million, loan portfolio at AZN 23.795 million, deposit portfolio at AZN 5.876 million, total capital at AZN 11.323 million and authorized capital at AZN 9.594 million.
Consumer loans made AZN 7.910 million because no consumer loan was lent this year.
Established in 1992, Deka Bank operates 6 branches, including 2 in provinces.