Bank Of Baku

Rabitabank gets rise in quarterly profit

Rabitabank gets rise in quarterly profit
# 01 May 2013 10:38 (UTC +04:00)

 

Baku. Vahab Rzayev – APA-Economics. As of April 1, 2013, Azerbaijan-based Rabitabank’s assets stood at AZN 194 ln, up 24% from previous year. Bank says its pre-tax profit was over AZN 324,000, up 66% compared with a year earlier.

 

Bank’s loan portfolio on clients made AZN 110 mln, rising 4% in comparison to a year earlier. Deposit portfolio stood at AZN 128 mln, up 39% compared with early year.

 

Bank’s capital soared 23% to AZN 44.4 mln, authorized capital surged AZN 10 mln or 33.3% to AZN 40 mln.

 

In January, experienced banker Nikoloz Shurgaia was appointed as the Chairman of Board of Directors. 

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