Finance

Home page

Finance

YapiKredi Bank Azerbaijan posts 27% rise in assets

26 January 2009 14:25 (UTC +04:00)

BakÄ±. Elnur HÃ¼seynquluyev â€“ APA-Economics. As at January 1, YakiKredi Bank Azerbaijanâ€™s (former KoÃ§Bank AzÉ™rbaycan) assets stood at AZN 173.628 million, up 26.5% on a year earlier.
The bank said loan portfolio rose 5.4 times to AZN 78.724 million, deposit portfolio increased 55% to AZN 128.795 million, total capital doubled to AZN 26 million and authorized share capital went up 2.3 times to AZN 14.496 million.
Consumer lending nearly doubled to AZN 3.047 million.
Revenues for 2008 rose 26.7% to AZN 12.825 million and expenditures increased 0.03% to AZN 6.044 million.
Profit rose 66.2% to AZN 6.782 million.
The bank established 1 branch, 1 bureau of exchange, 3 ATMs and 21 POS terminals over the past year. The number of the bankâ€™s staff rose 79% to 102 and salary increased 35% to AZN 1 640.
Tax expenses grew 31% to AZN 1.555 million, and PR and marketing spending jumped 6.1 times to AZN 40 630.
YapiKredi Bank Azerbaijan, owned by Turkeyâ€™s YapiKredi Bank (80%) and International Finance Corporation (IFC) (20%), has been in operation since 2000.
The bank operates 3 branches, 3 bureaus of exchange, 13 ATMs and 45 POS terminals.