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Gandja Bank achieves 20% growth in assets

29 January 2009 09:32 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Gandja Bankâ€™s assets stood at AZN 30.916 million, up 20% on a year ago.
The bank said loan portfolio rose 5.4% to AZN 24.863 million, deposit portfolio decreased 21.5% to AZN 2.366 million, total capital went up 0.4% to AZN 11.207 million and authorized capital stood at AZN 10 million.
Consumer lending dropped 13.4% to AZN 7.303 million.
Revenue for 2008 rose 42.2% over the past year to AZN 5.692 million and expenditures increased by 36.6% to AZN 4.787 million.
Profit grew 81.7% AZN 0.905 million.
The bank established 1 branch and 14 POS terminal over the past one year.
The number of employees rose 1.4% to 72 and salary increased by 50% to AZN 729 on average.
Established in 1994, Gandjabank is the first regional bank based in Gandja.
It operates 4 branches, 3 ATMs and 14 POS-terminals.