Azerbaijani bank's deposit portfolio increases by third

Business Materials 17 September 2012 15:53 (UTC +04:00)

Azerbaijan, Baku, Sept 17 /Trend A.Hasanov/

Assets of Azerbaijani AGBank increased by 16.3 percent in January - August compared to the same period in 2011, amounting to 347.13 million manat, the bank told Trend.

The deposit portfolio of AGBank increased by 30.1 percent in January - August 2012 compared to the same period last year and amounted to 215.3 million manat, retail deposits amounted to 180 million manat, increasing by 28.2 percent.

Loan portfolio during the reporting period of the current year increased by 18.6 percent to 234 million manat, including loans to individuals - 26.07 million manat (with growth of 37.9 percent).

The total cost of the bank in the first eight months of this year amounted to 25.89 million manat, income - 31.64 million manat, net profit - 2.71 million manat.

The authorized capital of the bank amounted to 21 million manat, increasing by five percent compared to the same period in 2011, total capital increased by four per cent to $39.51 million manat.

Bank reserves for the reporting period of the current year amounted to 30.29 million manat, increasing by 34.07 percent during January - August 2011, investments in securities amounted to 1.07 million manat.

The number of active cards for the year increased by 26.9 percent to 55,840 units, ATMs - 55, POS-terminals - 1134 (an increase of 2.73 times in) subsidiaries -16.

JSC Azerigazbank was founded in 1992 in Baku. At the moment, the bank has 17 branches, six branches and 55 ATMs in Baku, Sumgait, Ganja, Yevlakh, Barda, Goychay, Shamakhi, Shirvan, Salyan.

AGBank shareholders are the International Finance Corporation - 17.5 percent, U.S. investment fund Kazimir Investment LTD - 10 percent, two individuals with the total amount of shares in the 40.69 percent, 69 minority shareholders with a total share in the bank in the amount of 31, 81 percent.

The official exchange rate on September 17 is 0.7853 AZN/USD