Bank Of Baku

Kredobank faces loss in first quarter

Kredobank faces loss in first quarter
# 05 May 2014 12:29 (UTC +04:00)

Baku. Parviz Nuriyev – APA-Economics. Azerbaijan-based Kredobank’s assets stood at AZN 157.138 mln, up 44.8% from previous year. 

 

Bank says the loan portfolio rose 18.4% to AZN 106.56 mln, consumer lending surged 2.6 times to AZN 14.164 mln, mortgage lending dropped 76% to AZN 4.302 mln, overdue credits soared 11.9% to AZN 24.519 mln.

 

Deposit portfolio grew 2.4 times to AZN 37.948 mln, personal savings made AZN 13.963 mln, down 2.31% in annual comparison.

 

Total capital increased by 38.3% to AZN 52.114 mln, while the authorized capital gained 44.2% to settle at AZN 50.54 mln.

 

Incomes climbed 2.6 times to AZN 7.69 mln, expenditures surged 3.6 times to AZN 9.554 mln.

 

Loss made AZN 1.864 mln.

 

For the present, the bank operates 16 branches, 4 ATMs and 46 POS-terminals across the country. 

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