Azerbaijan, Baku, July 17 /Trend A.Hasanov/
Assets of Azerbaijani Kredobank increased by 6.5 percent in the first half of this year and by 17.2 percent compared to the same period in 2011, reaching 96.36 million manat, the bank told Trend.
Deposit portfolio increased by 24.5 percent since the beginning of the year and by 51 percent compared to the same period of 2011, reaching 17.15 million manat.
The bank's loan portfolio declined by 7.4 percent during the reporting period of this year, reaching 55.88 million manat, including loans to individuals - 9.5 million manat (with a decrease by 34.5 percent).
The total cost of the bank for the period amounted to 4.34 million manat, income - 4.78 million manat, and net income - 441,000 manat.
The authorized capital of the bank amounted to 20.54 million manat for the first half of 2012, increasing by 10.7 percent compared to the same period of 2011, the total capital increased by 10.4 percent and amounted to 23 million manat.
The number of active cards of the bank is 264, POS-terminals - 70 ATM - 5.
The bank was established in 1994 under the name Commercial Bank "Anar". Kredo Bank began operations in February 1994 as a commercial bank, "Anar". The bank has 15 branches and 22 offices. The Bank's strategy is based on expanding the customer base, creating new products and entering foreign markets. Bank's credit policy is aimed at financing projects of small and medium-sized businesses.
Official exchange rate on July 17 is 0.7857 AZN/USD