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Azerbaijan Industry Bank achieves 2.5 times rise in loan book

05 February 2009 09:02 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan Industry Bankâ€™s assets stood at AZN 78.029 million, down 3.8% on a year ago.
The bank said loan portfolio increased by 2.5 times to AZN 36.101 million, deposit portfolio decreased 36.5% to AZN 32.560 million, total equity capital went up 41% to AZN 16.142 million and authorized capital stood at AZN 12.8 million.
Consumer lending doubled to AZN 9.631 million.
Revenue for 2008 doubled to AZN 10.544 million and expenditures rose by 2.8 times to AZN 8.554 million.
Profit grew 7.8% to AZN 1.990 million.
The bank established 5 branches, 8 ATMs and 89 POS terminals over the past one year.
The number of employees more than doubled to 144.
The bank paid AZN 1.177 million in tax, up 2.7 times on last year.
PR and marketing expenses grew by 6.6 times to AZN 405 000 and investment reached AZN 2.806 million.
The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.
It operates 7 branches,19 ATMs and 187 POS-terminals.