Baku, Azerbaijan, Aug.5
By Anvar Mammadov - Trend:
The loan portfolio of Caucasian Development Bank - Georgia (a subsidiary of Azerbaijan Caucasian Development Bank JSC) in the second quarter of 2015 grew by nearly 2 times and amounted to 15.43 million lari, the National Bank of Georgia told Trend Aug. 4.
For comparison, at the end of the second quarter of 2014, the figure was 7.97 million lari.
More than half (55.6 percent) of issued loans are loans in national currency (8.58 million lari), and amount equivalent to 6.84 million lari was granted by foreign currency loans. The amount of reserves in the structure of the loan portfolio of the Caucasian Development Bank - Georgia by the end of the second quarter of 2015 amounted to 1.88 million lari.
Assets of Caucasian Development Bank - Georgia (a subsidiary of Azerbaijan Caucasian Development Bank JSC) in the second quarter of 2015 amounted to 41.72 million lari,
The volume of the bank's assets grew by 1.83 times. By the end of the second quarter of last year, the figure was 22.74 million lari.
More than 57 percent of the bank's assets are located in the national currency, and the remainder (17.62 million lari) in foreign currency. Some 1.04 million lari have been accumulated in cash and cash equivalents, which is by over 2 times more than in the second quarter of 2014.
The total volume of the bank's liabilities in the reporting period amounted to 21.4 million lari, and increased by 2.75 times during the year. The structure of liabilities funds deposited on current accounts grew by 7 times during the year and amounted to 7.43 million lari. Bank attracted term deposits worth 10.097 million lari, of which 10.085 million lari fell on deposits in freely convertible currency and some 12,200 lari fell on deposits in national currency.
The authorized capital of the Caucasian Development Bank - Georgia was 20.04 million lari as of the end of the second quarter of 2015. The total capital of the bank amounted to 20.32 million lari (including 284,050 lari of retained earnings). Its volume grew by 35.6 percent, for comparison, at the end of the second quarter of 2014, the figure was 14.96 million lari.
Net interest income for the second quarter amounted to 966,050 lari, which is 70.13 times more than what was obtained in the same period of last year (567,830 lari).
The Bank completed the second quarter with a net profit in the amount of 115,700 lari.
"Caucasus Development Bank" JSC was founded April 23, 1996 to resolve the issues of acceleration of socio-economic development of the countries of the Caucasus, with the assistance of enterprises, banks, organizations and citizens of Azerbaijan, USA, Germany, Russia and Georgia. Georgian subsidiary bank began working in mid-2006.
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