Azerbaijani Atabank announces strategic goals for 2014

Azerbaijani Atabank announces strategic goals for 2014

Baku, Azerbaijan, Feb. 7

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The financial and economic results of Atabank in 2013 were successful, according to a message from the bank.

Thus, a growth by 30.4 percent or by 87.3 million manats was observed last year in dynamics of assets, the bank said. In other words, in early 2013 the assets were 287.6 million manats, whereas by late 2013 they increased to 374.9 million manats.

A growth was also observed in the credit portfolio, which is the major constituent part of assets. The growth stood at 28.3 percent or 53.3 million manats. Thus, in early 2013 the credit portfolio was 188.5 million manats, whereas in late 2013 this figure increased to 241.7 million manats.

"In 2013 there was a significant growth in the overall deposit portfolio of the bank. Thus as a result of a growth by 30.9 percent or by 75.2 million manats, this indicator stood at 318.7 million manats. We have to note that in the beginning of the year this figure was 243.5 million manats. The term deposit portfolio of the bank rose from 189.6 million manats by 28.7 percent or 54.5 million manats to 244.1 million manats. During 2013 there was a major growth on term deposits of individual customers. In comparison with the beginning of the year the deposits of individuals grew by 28.4 percent and exceeded 172.7 million manats," the bank said.

By late 2013 the return on assets (ROA) and return on the capital (ROE) amounted to 1.8 percent and 19.4 percent respectively. By early 2014 the numbers of ATMs and POS terminals of the bank were accordingly 80 and 8188.

The bank's net profit by late 2013 stood at 5.6 million manats.

"2013 was significant for Atabank not only with its financial results, but also with memorable events," according to the message.

Atabank celebrated its 20th anniversary in 2013.

The bank's achievement also included the reviewing of deposits policy and presentation of new deposit products, namely "Universal", "Accumulative" and "VIP". These deposits are allocated in banking market with their high profitability. Between early and late 2013 the bank also presented profitable credit products and achieved success in it.

The campaign supporting state policy on stimulating the non-cash payments - "Pay non cash, get cash" will continue this year also, as in the previous year.

"The achieved success imposes much more responsibility to the bank and its employees in 2014. Always following "A step ahead" principle Atabank plans to further improve the quality of its working system and introduce new products and services to meet the expectations of its customers more completely. The growth of financial indicators and continuing of institutional development are the integral parts of bank's development strategy for this year," the bank said.

The bank also plans to open several new branches and divisions. The main goals of 2014 include applying new services, improving professional skills of the employees, increasing the financial literacy of customers and upgrading international ratings of the bank.

The audit report of Atabank for 2013 has been provided by Deloitte&Touche.

The official exchange rate on Feb. 7 is 0.7843 AZN/USD.

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