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Parabank gets a 59% rise in assets

Parabank gets a 59% rise in assets

28 January 2009 09:39 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijanâ€™s Parabank posted its assets at AZN 65.552 million, up 58.5% on a year ago.
The bank said deposit portfolio rose 94% to AZN 35.905 million, loan portfolio increased by 95% to AZN 42.317 million, total capital went up 0.1% to AZN 12.353 million and authorized capital grew 7.2% to AZN 10.070 million.
Consumer lending dropped three times to AZN 5.073 million.
For 2008, revenue increased 69.7% to AZN 10.116 million and expenditures doubled to AZN 10.931 million. The bank ran a deficit of AZN 815 million, compared to AZN 523 000 profit a year ago.
The bank established 4 branches, 4 ATMs and 100 POS terminals over the past year.
Owned by 23 individuals, Parabank has been in operation since 1991. It operates 12 branches, 9 ATMs and 143 POS terminals.

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