Population’s deposits in Azerbaijani DemirBank increase by over a quarter
Azerbaijan, Baku, July 17 / Trend /
Azerbaijani DemirBank's assets as of July 1, 2012 amount 403.8 million manat, which exceeds the same indicator of previous year by 69.5 million manat or 20.8%, the bank's press release says on Tuesday.
Volume of the loan portfolio also increased by 14% and reached 278.4 million manat.
Total value of customer deposits as of July 1, 2012 is equal to 163.6 million manat. Value of individuals' term deposits has reached 117.2 million manat, which represents a 26.1% or 24.2 million manat increase.
As of July 1, 2012 DemirBank's shareholders capital amounted 21 million manat, while total regulatory capital reached 51.5 million manat.
One of the first and leading banks of Azerbaijan, DemirBank 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). DemirBank has "B" rating with "stable" forecast of Fitch Ratings and "B" rating with "stable" forecast of Planet Rating. These ratings are one of the best in Azerbaijan banking sector.
The official exchange rate is 0.7857 manat to $1 on July 17.