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United Credit Bank posts 23% rise in loan portfolio

13 February 2009 15:06 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. As of January 1, Azerbaijan-based United Credit Bankâ€™s assets stood at AZN 32.393 million, up 12.2% on a year ago.
Vahid Aliyev, deputy chairman of the bank, said loan portfolio increased by 3.1% to AZN 22.777 million and term deposit portfolio grew by 2.2% to AZN 6.247 million (, total equity capital reached AZN 13.276 million and authorized capital stood at AZN 12.108 million.
Besides, consumer loans reached AZN 8.911 million, loans to commercial banks AZN 250 000, total deposit portfolio AZN 8.433 million and term deposits by insurance companies AZN 916 000.
Term deposits by individuals increased by 3.3% to AZN 5.331 million. Call deposits reached AZN 2.186 million, call deposits by individuals made AZN 1.943 million and call deposits by legal entities made AZN 173 310.
Revenue rose by 22% to AZN 4458 000, interest incomes increased by 19% to AZN 402 000, non-interest incomes went up by 47.4% to AZN 56 000. Expenditure reached AZN 583 000, interest expenses AZN 149 000 and non-interest expenses AZN 434 000.
The bank operates 5 branches and 5 ATMs across the country.
Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual bodies in 1996 and was renamed in 1998 as United Credit Bank.