Azerbaijani Bank Doubles Deposit Portfolio of Individuals

Business Materials 30 November 2008 13:27 (UTC +04:00)

Azerbaijan, Baku, 30 November / Trend /The deposit portfolio of the Parabank OJSC increased by 85.4 percent in ten months of 2008 and reached AZN 34.2mln as for 1 November.

The volume of deposits in the bank by individuals doubled in Jan-Oct and made up AZN 31mln, against 164.6 percent in the mentioned period in 2007.

The credit portfolio of the bank increased by 105.5 percent within a year, by 94.7 percent - in ten months of 2008 and reached AZN 42.3mln. In October, bank's credit portfolio increased only by 8 percent. The size of consumer credits invested to Parabank by individuals made up AZN 4.7mln.

In ten months of 2008, Parabank's assets increased by 58.8 percent and touched AZN 65.7 percent as for 1 November. In October, the increase of assets comprised 6 percent.

As for 1 November, the volume of aggregated capital of bank made up AZN 11.8mln. Bank's common incomes made up AZN 8.2mln. Some AZN 6.6mln out of the common incomes feel on interest rate and AZN 1.6mln - on non-interest rate.

As for 1 November, the number of bank's plastic carts was 1,563, and nine cash machines and 133 POS-terminals were set up.

Parabank is a member of the Azerbaijani Deposit Insurance Fund.

The correspondent can be contacted at: [email protected]