Total liabilities of Azerbaijani Gunay Bank increase by almost 18 percent
Azerbaijan, Baku, April 28 / Trend A.Hasanov /
Assets of Azerbaijani Gunay Bank on the basis of activity in 2011 totaled 36.19 million manat against 31.29 million manat at the beginning of last year, an increase of 15.6 percent, the bank's balance sheet said on Saturday.
The financial statement of the bank was confirmed by an independent auditor - LLC "VMG Audit Consulting".
In 2011 the total amount of loans and advances to customers was 31.9 million manat, up by 13.3 percent compared to 2010. The total capital of the bank following 2011 amounted to 13.02 million manat, up from 2010 by 12.5 percent.
Total liabilities of the bank increased for the year by 17.5 percent, amounting to 23.16 million manat. Of these, Gunay Bank liabilities to banks and government agencies at the end of 2011 amounted to 14.49 million manat, which 17.8 percent higher compared to the same period last year, to the client accounts - 8.62 million manat (an increase of 17.2 percent), and other liabilities - 56,120 manat.
The bank's operating profit as of 2011 amounted to 1.75 million manat, net interest income - 3.68 million manat (a 9.4-per cent decrease).
Last year the bank completed with a loss of 1.45 million manat.
Gunay Bank JSC was founded on November 15, 1991. Today, the bank has seven shareholders - individuals.
The official exchange rate is 0.7862 AZN to $1 on April 28.