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Azerbaijani DemirBank's assets jump by 13 percent

Business Materials 25 July 2011 11:37
The Azerbaijani DemirBank's assets as of July 1, 2011 amounted to 334.3mln manat, which exceeds the same indicator of previous year by 38.9 mln manat or 13.2%, the bank reported.
Azerbaijani DemirBank's assets jump by 13 percent

Azerbaijan, Baku, July 25 / Trend/

The Azerbaijani DemirBank's assets as of July 1, 2011 amounted to 334.3mln manat, which exceeds the same indicator of previous year by 38.9 mln manat or 13.2%, the bank reported.

Volume of the loan portfolio also increased by 17.1% and reached 244.4 mln manat.
Total value of customer deposits as of July 1, 2011 is equal to 118.4 mln manat. Value of individuals' term deposits has reached 92.9 mln manat, which represents a 13.8% or 11.2 mln manat increase.

As of July 1, 2011 DemirBank's shareholders capital amounted 20 mln manat, while total regulatory capital reached 49.9 mln manat.

One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).
The official exchange rate is 0.7865 manat to $1 on July 25.

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