DemirBank sees 4% rise in assets year-on-year

DemirBank sees 4% rise in assets year-on-year
# 18 December 2012 12:30 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. DemirBank’s assets as of December 1, 2012 amount 374.1 mln AZN, which exceeds the same indicator of previous year by 15.7 mln AZN or 4.4%. Volume of the loan portfolio also increased by 11.3% and reached 285.8 mln AZN.

Total value of customer deposits as of December 1, 2012 is equal to 155.4 mln AZN. Value of individuals’ term deposits has reached 127.8 mln AZN, which represents a 30.3% or 29.7 mln AZN increase.

As of December 1, 2012 DemirBank’s shareholders capital amounted 21 mln AZN, while total regulatory capital reached 56.7 mln AZN.

One of the first and leading banks of Azerbaijan, DemirBank started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as the European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO). DemirBank has “B” rating with “stable” forecast of Fitch Ratings and Planet Rating. These ratings are one of the best in Azerbaijan banking sector.

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