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Bank Respublika posts 53% growth in assets

27 January 2009 15:30 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As at January 1, Azerbaijan-based Bank Respublikaâ€™s assets stood at AZN 387.875 million, up 53.2% on January 1, 2008.
The bank said loan portfolio increased 63.4% to AZN 260.367 million, deposit portfolio rose 21.8% to AZN 135.816 million, total capital went up 83% to AZN 43.299 million and authorized capital rose 79.5% to AZN 22.6 million.
Consumer lending grew 37.3% to AZN 87.357 million.
For 2008, revenue increased 91.5% to AZN 59.080 million and expenditures rose 95% to AZN 46.904 million. Profit rose 78.6% to AZN 12.175 million and net profit increased 83% to AZN 9.583 million.
The bank established 7 branches, 11 ATMs and 104 POS terminals. The number of employees rose 26.6% to 481.
Bank Respublika has been in operation since 1992. DEG Investment Corporation and Sparkassen International Development Trust hold a 25%+1 joint stake.
The bank has 21 branches, 40 ATMs and 290 POS terminals.