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Demirbank sees 8% rise in assets

21 April 2014 11:09 (UTC +04:00)

Baku. Parviz Nuriyev – APA-Economics. DemirBank’s total assets as of April 1, 2014 rose 8% to AZN 403.1 mln. Volume of the loan portfolio also increased by 14.5% and reached AZN 314.1 mln.

Total value of customer deposits as of April 1, 2014 is equal to AZN 190.4 mln. Value of individuals’ term deposits has reached AZN 167.3 mln, which represents a 20.6% or AZN 28.5 mln increase.

As of April 1, 2014 DemirBank’s total regulatory capital reached AZN 61.4 mln, 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.