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Kavkaz Development Bank gets 14.5% rise in assets

23 October 2014 09:04 (UTC +04:00)

Baku. Parviz Nuriyev - APA-Economics. In the third quarter of 2014, Kavkaz Development Bank’s assets stood at AZN 142.700 mln, up 14.52% in annual comparison.

Bank says the loan portfolio rose 14.19% to AZN 127.076 mln, consumption loans fell 17.54% to AZN 20.086 mln, and mortgage lending surged 2.32 times to AZN 1.716 mln (all loans were given through AMF).

Overdue credits soared 7.63 times to AZN 2.168 mln.

Deposit portfolio raised 13.99% to AZN 7.616 mln, personal savings dropped 5.76% to AZN 5.518 mln.

Total capital increased by 12.40% to AZN 51.851 mln, while the authorized capital grew 30.33% to AZN 55 mln.

Incomes ended 57.93% higher to settle at AZN 11.551 mln, expenditures advantaged 48.10% to AZN 4.258 mln.

Profit stood at AZN 4.245 mln.

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