Finance

Finance

DÉ™mirbankâ€™s assets reach AZN 390 mln

13 November 2013 08:01 (UTC +04:00)

Baku. Nail Huseynli – APA-Economics. DemirBank’s total assets as of November 1, 2013 amount equals 389.7 mln AZN. Volume of the loan portfolio also increased by 5% and reached 300 mln AZN.

Total value of customer deposits as of November 1, 2013 is equal to 177.3 mln AZN. Value of individuals’ term deposits has reached 149.6 mln AZN, which represents a 19.2% or 24.1 mln AZN increase.

As of November 1, 2013 DemirBank’s total regulatory capital reached 58.7 mln AZN, so this indicator covers AZN 50 million of the total capital amount demanded by the Central Bank of Azerbaijan Republic as of January 1, 2014.

The first commercial bank 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 “B” rating with “positive” forecast Planet Rating. These ratings are one of the best in Azerbaijan banking sector.