United Credit Bank increases deposit portfolio 9%

United Credit Bank increases deposit portfolio 9%
# 14 August 2008 00:18 (UTC +04:00)
Baku. Nijat Mustafayev - APA-Economics. Azerbaijan-based United Credit Bank increased its deposit portfolio 20%. The bank told APA-Economics that as of August 1, the deposit portfolio of the bank was AZN 8.77 million, up 136.5% on the same period of last year. The deposit portfolio grew 19.7%.
The amount of term deposits increased 18.8% and reached AZN 5.38mln. within seven months of this year. The amount of deposits made by individual increased 28.1% within seven months of this year and as of August 1, made up AZN 4.58 million, up 148.9% on the same period of last year. On-demand deposits of the individuals increased 53.3% in the reporting period and increased 37% in July and reached AZN 2.85mln.
The amount of the loans offered by the bank increased 27.8% compared with the beginning of 2008, as of August 1, it reached AZN 23.42 million, up 79.3% on the same period of last year.
On August 1, consumer loans were AZN 9.51 million and it was increased by 36.6% in comparison with last year.
Azerbaijan’s United Credit Bank raised its assets to AZN 33.42 million during seven months, up 83.6% from the same period of last year.

Paid-up credit jumped to AZN 12.108, up 44.8% from the same period last year, aggregate capital leaped 23.2 to AZN 13.47 million. Interest incomes rose 46% and non interest incomes increased 36%.

The net profit for this period was AZN 73.64 million. Bank profit was 0.36% and capital profit was 0.56%.

Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual body in 1996 and was renamed in 1998 as United Credit Bank. The bank has correspondent accounts in Turkey, Austria, Belgium, Russia and Kazakhstan. The bank joined money transmission systems such as Express, Migom, Private Money, Leader.