United Credit Bank’s Assets Increase Almost by 60%

Business Materials 21 November 2008 18:39 (UTC +04:00)

Azerbaijan, Baku, 21 November / Trend / United Credit Bank's assets over the last year increased by 58% and made up AZN 32.7mln as for 1 November 2008, the bank reported on 21 November.

The growth for ten months of 2008 reached 37.5%.

The growth rate of United Credit Bank deposit portfolio over the last year equaled 28.2% and totaled AZN 8mln. The volume of attracted deposits touched AZN 5.4mln to the end of the mentioned period, which is exceeds the same period in the early of the year by 20.3%.

The volume of investments, which United Credit Bank attracted from individuals, increased by 57.2% over the last year, by 25.1% within ten months of 2008 and AZN 4.5mln to the end of the reported period. As for 1 November 2008, the volume of deposits attracted by bank from individuals made up AZN 1.4mln.

In October, United Credit Bank's credit portfolio increased to growing up. The volume of credits, which bank proposed to clients, as compared to the beginning of the year, increased by 23.6% and made up AZN 22.7mln. This index exceeds the same period in 2007 by 36.8%. The volume of issued consumer credits made up AZN 9mln as for 1 November 2008.

The growth rate of consumer credits in October is marked at 2.4%.

The volume of aggregated capital made up AZN 13.3mln and authorized capital - AZN 12.11mln to the end of the reported period.

As for 1 November 2008, the total incomes of United Credit Bank made up AZN 3.9mln, including percentage incomes - AZN 3.4mln, non-percentage incomes - AZN 558,800.

United Credit Bank OJSC was established in 1996. Bank renders wide spectrum of financial services to individuals and juridical entities through the head office and five branches of the bank. Bank is the co-founder of the Baku Stock Exchange, a member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Baku Interbank Stock exchange, as well as an active participant of the Organized Interbank Loan Market. United Credit Bank has close relations with leading banks of the world. OJSC has corresponding accounts in the leading banks of Austria, Belgium, Turkey, the Russian Federation and Kazakhstan. The direct correspondent relations with Russian savings bank enable clients of United Credit Bank to work in online regime with partners, which function in the territory of the Russian Federation.

United Credit Bank renders international money orders of Western Union, Express, Migom, Privat Money and Lider.

On 21 November, the official currency rate is 0.8099 AZN/USD.

The correspondent can be contacted at: [email protected]