Results of Azerbaijan International Bank’s Activities in 3Q Exceed Indices for 2005
Azerbaijan, Baku, 7 October / Trend / The indices of financial-economic activities of Azerbaijan International Bank (MBA) during the third quarter of 2008 exceeded the results of activities for 2005, bank reported on 6 October. Profit of the bank made up AZN 29.230mln in the third quarter.
The sum of profit increased by AZN 10.171mln or by 53.4% as compared to similar period of 2007.
In this period AZN 75.872mln fell on the share of interests, obtained from operations, in total volume of income, made up AZN 104.164 mln over three months (income increased by 49% as compared to last year, when income was determined in the amount of AZN 69.881 mln). AZN 64.087 mln fell on the share of loans, issued to physical and juridical people, while AZN 4.758 mln was placed in banks.
The sum of funds attracted by the IBA from physical and juridical people made up AZN 2.385 bln at the beginning of October, when this index was equal to AZN 1.618 bln for the same period of 2007. The funds attracted by IBA increased by AZN 766.7 mln or by 47.4%.
AZN 478.817 mln fell on the share of population's deposits in the limp deposits, exceeding the indices for the beginning of October 2007 by 29.9%.
Presently, total volume of the IBA's loan portfolio makes up AZN 2.752 bln as compared to AZN 1.4 bln last year.
Commission income and income of the bank for services rendered to clients made up AZN 28.508 mln with a rise of 21.2% during the year.
The IBA's expenses for three months made up AZN 74.935mln, including AZN 30.754mln in payments of interests for investments and deposits as compared to AZN 17.9 mln last year.
Bank assets increased by 79% as compared to last year and made up AZN 4.172 bln.
Balance capital increased by 81%.
The correspondent can be contacted at [email protected]