Finance

Finance

Demirbank gets 18% growth in individualsâ€™ term deposits

16 July 2013 13:07 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. DemirBank’s total assets as of July 1, 2013 amount equals 383 mln AZN. Volume of the loan portfolio reached 280.5 mln AZN.

Total value of customer deposits as of July 1, 2013 is equal to 174.6 mln AZN. Value of individuals’ term deposits has reached 138.5 mln AZN, which represents a 18.2% or 21.4 mln AZN increase.

As of July 1, 2013 DemirBank’s while total regulatory capital reached 57.2 mln AZN.

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 Planet Rating. These ratings are one of the best in Azerbaijan banking sector.