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DemirBank sees 18% rise in individualsâ€™ term deposits

14 March 2014 08:48 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. DemirBank’s total assets as of March 1, 2014 amount equals 410.3 mln AZN. Volume of the loan portfolio also increased by 11.5% and reached 309.3 mln AZN.

Total value of customer deposits as of March 1, 2014 is equal to 195.2 mln AZN. Value of individuals’ term deposits has reached 162.8 mln AZN, which represents 18% or 24.9 mln AZN increase.

As of March 1, 2014 DemirBank’s total regulatory capital reached 61.2 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, 2015.

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 the “B” rating with “positive” forecast of “Planet Rating” and "Fitch Ratings" agencies.