Xalg Bank faces losses in first quarter

Xalg Bank faces losses in first quarter
# 24 April 2014 14:00 (UTC +04:00)

Baku. Parviz Nuriyev – APA-Economics. Xalg Bank’s assets made stood at AZN 187.958 mln in the first quarter, up 24.5% by contrast to a year earlier.

Bank says loan portfolio rose 41% to AZN 979.458 mln.

Consumer lending made AZN 61.629 mln, up 46.8% from a year earlier.

As of April 1, the mortgage loans made AZN 51.728 mln, up 30.9% from previous year and 39.214 mln or 75.8% has been given through Azerbaijan Mortgage Fund.

Overdue credits rose 4.2 times to AZN 109.463 mln.

Deposit portfolio surged 28.2% to AZN 774.717 mln, personal savings were equal to AZN 633.75 mln, up 45.1% by contrast to a year earlier.

Total capital dropped 8.2% to AZN 177.957 mln, while authorized capital soared 8.6% to AZN 183,693,180.

Incomes grew 2.26 times to AZN 40,403,900, expenditures quadrupled to AZN 63,827,400.

Bank’s losses made AZN 23,423,500.

The bank operates 24 branches, 41 ATMs and 119 POS-terminals across the country.

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