Bank Of Baku

Xalg Bank faces loss in second quarter

Xalg Bank faces loss in second quarter
# 03 September 2014 12:35 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. In the second quarter of 2014, Xalg Bank’s assets stood at AZN 1,180,823,000, down 7.5% from previous year.

 

Bank says the loan portfolio dropped 3.3% to AZN 932.463 mln, mortgage lending rose 36.1% to AZN 58,197 mln, deposit portfolio fell 14.6% to AZN 741.170 mln, personal savings slipped 8.5% to AZN 589.287 mln.

 

Total capital slid 10.8% to AZN 177.403 mln, while authorized capital grew 8.6% to AZN 183,693,018.

 

Incomes rose 42.2% to AZN 48.629 mln, expenditures surged 2.4 times to AZN 74.243 mln.

 

Bank’s loss in the second quarter made AZN 25,614,000.

 

For the present, the bank operates 25 branches, 41 ATMs across the country. 

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