Azerbaijani DemirBank increases loan portfolio by over 14 percent

Photo: Azerbaijani DemirBank increases loan portfolio by over 14 percent 

 / Economy news

Baku, Azerbaijan, April 16
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DemirBank's total assets as of April 1, 2014 amount equals 403.1 mln manat. Volume of the loan portfolio also increased by 14.5% and reached 314.1 mln manat, the bank said on April 16.

Total value of customer deposits as of April 1, 2014 is equal to 190.4 mln manat. Value of individuals' term deposits has reached 167.3 mln manat, which represents a 20.6% or 28.5 mln manat increase.

As of April 1, 2014 DemirBank's total regulatory capital reached 61.4 mln manat, so this indicator covers 50 million manat of the total capital amount demanded by the Central Bank of Azerbaijan Republic as of January 1, 2015.

The first commercial bank of Azerbaijan, DemirBank started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as the European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO). DemirBank has the "B" rating with "positive" forecast of "Planet Rating" and "Fitch Ratings" agencies.

The official exchange rate is 0.7843 AZN/USD on April 16.

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