Azerbaijani Amrahbank’s income increases by 15 times in 2012
Azerbaijan, Baku, April 2 / Trend /
According to March issue of "The Economist", Amrahbank, having 20 years of experience in the banking sector, has become a leader of the dynamics of profitability. Profitability of the bank in 2012 has increased by 15 times in comparison with 2011 and amounted 2,07 Million manat.
Results of latest innovations and projects of the bank, also reflected in other financial results of "Amrahbank".
The size of the assets of "Amrahbank"on 01.01.2013 amounted 113,0 Million manat growing by 33% compared to the corresponding period of 2011.
The loan portfolio grew by 51.9% in comparison with corresponding period of the last year and amounted 76,6 Million manat including the volume of consumer credit, which increased in comparison to the previous year by 48.1% up to 47,7 MIllion manat.
Deposit portfolio of the Bank increased by 28.1% in comparison with corresponding period of the last year and amounted 72,2 Million manat, including retail deposits, which increased in comparison with corresponding period of the last year by 19.3% up to 43,9 Million manat.
At the same time, the aggregate capital of the Bank increased with corresponding period of the last year by 23.1% up to 25,9 Million manat.
Established in 1993 Amrahbank is one of the oldest and leading commercial banks of Azerbaijan. It offers wide range of retail and corporate banking products and services such as opening of current and deposit accounts, plastic cards, clearing operations, consumer and business loans, local and international money transfers, documentary operations, trade finance, etc.
International Investment Bank based in Bahrain, is the strategic shareholder Amrahbank since 2008.
Currently there are 19 branches and 3 sub-branches of the bank operating. The Bank's branch network covers the capital and regions of our republic such as Sumgait, Lankaran, Tovuz, Bilasuvar, Barda, Ganja and Masalli.
The official exchange rate is 0,7846 AZN/USD on April 2.