Finance

Finance

Kavkaz Development Bank sees 23% growth in assets

22 January 2014 09:31 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of January 1, 2014, Kavkaz Development Bank’s assets stood at AZN 127.872 mln, up 22.7% from a year earlier.

Bank says loan portfolio rose 21.3% to AZN 116.008 mln, as well as consumer lending made AZN 22.422 mln, up 6.7% from 2013. At the same time, overdue credits soared 1.9% to AZN 0.165 mln and share of overdue credits in loan portfolio dropped 0.03 percentage point to 0.14%.

Deposit portfolio fell 31.3% to AZN 7.681 mln, as well as personal savings were equal to AZN 1.007 mln, down 4.7 times from 2013.

Total capital surged 81.2% to AZN 55.988 mln, including authorized capital grew 83.1% to AZN 55.0 mln.

Number of clients increased by 2.4 times to 7,048, as well as individuals rose 2.7 times to 6,418, juridical persons – 8.3% to 630.

Currently, the bank operates 3 branches, 1 ATM and 4 POS-terminals across the country.