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Khalg Bank posts 90% rise in assets

27 January 2009 13:09 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As at January 1, Khalg Bankâ€™s assets stood at AZN 403.710 million, up 90.3% on a year earlier.
The bank said loan portfolio rose 2.3 times to AZN 360.640 million, deposit portfolio increased 2.2 times to AZN 298.325 million, total capital grew 16.2% to AZN 57.235 million and authorized share capital stood at AZN 53.550 million.
Consumer lending nearly doubled to AZN 3.047 million.
Revenues for 2008 rose 2.2 times to AZN 47.172 million and expenditures increased 2.4 times to AZN 46.277 million.
Profit fell 2.3 times to AZN 895 000 and net profit dropped 2.9 times to AZN 649 000.
The bank established 4 branches, 11 ATMs and 21 POS terminals over the past year. The number of the bankâ€™s staff rose 52.8% to 249.
Owned by a number of legal entiries, Khalg Bank has been in operation since 2004.
It operates 8 branches, 21 ATMs and 31 POS terminals.