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Debut Bank posts 51% rise in deposit portfolio

29 January 2009 09:21 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. As at January 1, Azerbaijan-based Debut Bankâ€™s assets stood at AZN 31.505 million, up 2.7% on a year ago.
The bank said loan portfolio rose 1% to AZN 27.202 million, deposit portfolio decreased 50.5% to AZN 918 000, total capital went down 0.5% to AZN 10 million and authorized capital rose 3.4% to AZN 8.750.
Consumer lending dropped 6.4% to AZN 1.693 million.
Revenue for 2008 rose 23.6% to AZN 4.794 and expenditures increased 21% to AZN 4.780 million. Profit was AZN 14 000 while the bank ran a deficit of AZN 83 000 a year ago.
The bank established 1 bureau of exchange and 5 POS terminals over the past one year. The number of employees rose 0.9% to 110 and average salary rose 33.3% to AZN 200.
Owned by a number of individuals, Debut Bank has been in operation since 1994.
The bank operates 7 branches, 7 ATMs, 31 bureaus of exchange and 85 POS terminals