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AmrahBank: Our capital meets CBAâ€™s demand

09 September 2014 15:01 (UTC +04:00)

Baku. Parviz Nuriyev – APA-Economics. Amrahbank plans to increase the profit to AZN 8 mln by the end of 2014, up two times from 2013, member of bank’s Board of Directors, head of financial department Najaf Jafarli told APA-Economics.

Commenting on claims of several mass media that Amrahbank can not fulfill the demand of the Central Bank of Azerbaijan on total capital, Jafarli said that such information is not true: “Our total capital exceeds AZN 55 mln. Amrahbank continues its successful activity”.

He noted that Amrahbank carried out significant works for implementation of its strategic plan to reach its goals and gained achievements in this direction: “Amrahbank was a leader for profit dynamic in the banking sector of the country in 2012. Bank’s profit quintupled to AZN 2.6 mln during the same period”.

In comparison to 2012, the profit rose 58% to AZN 4.1 mln in 2013.

According to outcomes of 8 months of 2014, bank’s profit stood at AZN 4.5 mln.

Bank’s assets rose 62% to AZN 173 mln, deposits soared 63% to AZN 93 mln.

Bank also continued its credit policy successfully. So, the loan portfolio increased by 30%.

Targeting to be a bank of per citizen in the country, the bank launched 2 branches and the number of branches reached 24.

Bank also provides services to the customers with its express money transfer systems. Average monthly circulation of the bank makes AZN 10 mln, up two times in comparison to a year earlier.