Kavkaz Development Bank gets 74% rise in Q1 assets

Kavkaz Development Bank gets 74% rise in Q1 assets
# 17 April 2013 13:15 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of Aoril 1, 2013, Azerbaijan-based Kavkaz Development Bank’s assets stood at AZN 107.707 mln, up 73.7% from previous year.

Bank says the loan portfolio rose 80.0% to AZN 99.750 mln. Besides, consumer lending made AZN 21.543 mln, up 3.8 times from a year earlier. At the same time, overdue credits slipped 6 times to AZN 178,000 and its share in loan portfolio fell 9.5 times to 0.2%.

Deposit portfolio soared 18.9% to AZN 11.058 mln, including personal savings were equal to AZN 5.111 mln, up 18.6% in annual comparison.

Total capital grew 2.3 times to AZN 32.638 mln, as well as authorized capital surged 2.2 times to AZN 31.2 mln.

Number of clients climbed 2.7 times to 4,092, including individuals rose 3.7 times to 3,509, legal entities – 0.2% to 583.

For the present, the bank operates 4 branches across the country. Average monthlyh salary is AZN 800.

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