Bank of Baku Increases Net Profit by 238%
Azerbaijan, Baku, 21 July / Trend / The net profit of theBank of Baku on the result of the activity in the second quarter in 2008 comprised AZN 4.57mln, which is more by 238% compared to the same period in 2007.
In 2008, a total income has increased by AZN 19.37mln and expenditure - reached AZN 12.58mln compared to 2007. ROA (return on assets) touched 5.57% due to high profitability in the second quarter in 2008 against 2.58% as for 2007, as well as ROE (return on equity) made up 42.67% against 21.94% in 2007.
The assets of Bank of Baku has increased by 74% and made up AZN 176.22mln in 2008 as compared to 2007. Growth of the credit portfolio totaled 93% and made up AZN 144.17mln in 2008.
The number of attracted funds of the bank reached AZN 138.03mln which is more by 78% compared to 1 July 2007. The number of deposit with fixed period was AZN 61.05ml, which is more by 40% compared to early 2007.
The paid authorized fund retained AZN 6.8mln and the authorized capital exceeded AZN 23.57mln.
The number bank's active plastic cards made up 27,871 by the end of June in 2008. Some 22,891 falls on credit cards and 4,980 - on debit cards. The number of POS-terminals of the bank for today is 257 units and АТМ- cash machines - 24 units. Bank of Baku has 15 branch offices, Bank of Baku express centre- Express, as well as one office in the Sumgayit City.