Azerbaijani bank’s assets up by 7.4 percent

Business Materials 24 January 2012 16:51 (UTC +04:00)

Azerbaijan, Baku, Jan. 24 / Trend N. Ismayilova /

The Azerbaijani AtaBank's assets as of 2011 grew by 7.4 percent to 231.016 million manat as of Jan. 1, 2012, the bank said today.

AtaBank's loan portfolio increased by almost 6 percent to 146.704.2 million manat. The bank's liabilities increased by 7.3 percent and exceeded 199.2 million manat.

During the reporting period, the deposits of physical entities increased by 22.8 percent to 113.73 million manat. By late 2011, net profit amounted to 3.11 million manat. The authorized capital of the bank hit 25 million manat.

AtaBank has been successfully operating since 1993. It is one of the largest commercial banks in Azerbaijan. The main shareholder is AtaHolding, which owns 76 percent of its shares.

The official exchange rate is 0.7862 AZN/USD on Jan. 24.