Term deposits in Azerbaijani DemirBank increase by 30.5 percent
Azerbaijan, Baku, Nov.15 / Trend /
Azerbaijani DemirBank's assets as of November 1, 2012 amount 390.1 million manat, which exceeds the same indicator of previous year by 27.5 million manat or 7.6 percent. Volume of the loan portfolio also increased by 12.6 percent and reached 286.6 million manta, the bank's press release says on Thursday.
Total value of customer deposits as of November 1, 2012 is equal to 162.5 million manat. Value of individuals' term deposits has reached 125.5 million manat, which represents a 30.5 percent or 29.4 million manat increase.
As of November 1, 2012 DemirBank's shareholders capital amounted 21 million manat, while total regulatory capital reached 56.2 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 the European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO). DemirBank has "B" rating with "stable" forecast of Fitch Ratings and Planet Rating. These ratings are one of the best in Azerbaijan banking sector.
The official exchange rate is 0.7848 manat to $1 on Nov.15.