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Gafgaz Development Bank gets decline in deposit portfolio

Gafgaz Development Bank gets decline in deposit portfolio

01 May 2014 12:00 (UTC +04:00)

Baku. Parviz Nuriyev – APA-Economics. As of April 1, 2014, Gafgaz Development Bank’s assets stood at AZN 129.857 mln, up 20.6% from previous year.

Bank says the loan portfolio rose 18.8% to AZN 118.523 mln, consumer lending fell 1.4% to AZN 21.2 mln, mortgage lending tripled to AZN 1.463 mln (all given through AMF), overdue credits rose 3.9 times to AZN 699,500, deposit portfolio dropped 27.9% to AZN 7.972 mln, personal savings grew 12.2% to AZN 5.735 mln.

Total capital surged 81.1% to AZN 59.104 mln, while the authorized capital soared 76.3% to AZN 55 mln.

Incomes increased by 2.33 times to AZN 5.212 mln, expenditures – by 29% to AZN 2.14 mln.

Profit made AZN 3,072,100.

For the present, the bank operates 3 branches, 1 ATM and 4 POS-terminals across the country.

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