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Khalgbank Announces 10-fold Rose in Fiscal Indices for 2006

Business Materials 20 January 2007 11:57

Khalgbank stated 10-fold rise in the fiscal indices for 2006, Trend reports citing an official announcement by the Bank. Over the last year Khalgbank's assets increased by 333% and as of 1 January 2007 made up 75,146,4 manats.

The credit portfolio of Khalgbank increased in 536% and reached 61,427,8 manats. The attracted amount of deposits rose in 665% and constituted 63,122,4 manats. The amount of community deposits with fixed period rose in 1123% and reached 39,219,300 manats

In 2006 the aggregate capital of Khalgbank rose in 58% and comprised 9007,000 manats. As a result of activities in 2006, the Banks incomes constituted 5467,770 manats and expenses - 6377,500 manats. Loss in this period made up 909,730 manats.

At present the Bank has two regional branches in Sumgayit and Zakatala. It plans to open new branches in Mingachevir and Neftchala. So far, the Bank has issued over 3,000 local plastic cards, installed 11 cash-vending machines and 7 POS-terminals.

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