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Kafkaz Development Bank gets 93% growth in consumer lending

Kafkaz Development Bank gets 93% growth in consumer lending

22 January 2009 12:30 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Kafkaz Development Bankâ€™s assets stood at AZN 32.337million, up 2% on a year ago.
The bank said loan portfolio rose 4.2% to AZN 27.246 million, deposit portfolio increased 8.7% to AZN 1.757 million while total capital went down 0.8% to AZN 10.437 million and authorized capital stood at AZN 10 million.
Consumer loans rose 93% to AZN 2.629 million.
Revenue for 2008 decreased by 14.4% over the past year to AZN 3.154 million and expenditures declined by 7.9% to AZN 3.252 million.
The bank had a loss of AZN 98 240.
The number of employees reached 67.
Established in April, 1996, the bank is owned by Azeri, US, German, Georgian and Russian ventures, banks, institutions and individuals.

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