Azerbaijan, Baku, May 4 /Trend A.Hasanov/
The deposit portfolio of the AG Bank of Azerbaijan increased by 1.5 per cent during the first quarter 2012 and by 30.6 per cent compared to the same period last year to 188.59 million manat, the bank told Trend on Friday.
The bank's assets increased by 2.1 per cent in the first quarter of this year and by 16 per cent compared to January-March last year to 321.07 million manat.
The growth of the loan portfolio stood at one per cent and 10.7 per cent respectively and amounted to 211.14 million manat, including the volume of consumer loans standing at 165.7 million manat, with a growth of 3.9 per cent for the first quarter of this year and 28.3 per cent in the same period in 2011.
Revenues of AG Bank totalled 11.19 million manat, an increase of 8.3 per cent for the year. Costs were 9.63 million manat (8.4 per cent). The bank ended the first quarter with a profit of 500.4 manat compared to 562.35 manat for the same period last year.
The authorised capital of the bank stood at 20 million manat in the first quarter of 2012, while the total capital for the year declined by 6.2 per cent amounting to 35.37 million manat.
The number of active cards increased by five per cent in January - March 2012 and by 46.9 per cent to 52,225 units compared to the same period last year.
Strategic priority sectors of the bank are the development of small and medium businesses, corporate customers, retail business operations in the financial markets and cooperation with international financial institutions.
AG Bank was founded in 1992. Currently the bank has 17 branches, six departments and 55 ATMs in the cities of Baku, Sumgayit, Ganja, Yevlakh, Barda, Goychay, Shamakhi, Shirvan and Salyan. The bank's shareholders are: the International Finance Corporation with 17.5 per cent and an American investment fund Kazimir Investment LTD, 10 per cent. The total number of minority shareholders is equal to 69 and their total share capital of the bank is 31.81 per cent. Another two individuals have a stake in 40.69 per cent.
Official exchange rate on May 4 is 0.7860 AZN/USD