Baku, Azerbaijan, Nov. 6
By Azad Hasanov - Trend:
Assets of Caucasian Development Bank - Georgia (a subsidiary of Azerbaijan Caucasian Development Bank JSC) in the third quarter of this year amounted to 27.4 million GEL, the National Bank of Georgia told Trend Nov. 6.
The official exchange rate of the National Bank of Georgia on Nov. 6 is 1.7556 GEL / USD.
The volume of the bank's assets grew by 55.7 percent. By the end of the third quarter of last year, the figure was 17.6 million GEL. More than 72 percent of the bank's assets are located in the national currency, and the remainder (7.47 million GEL) in foreign currency. 1.143 million GEL has been accumulated in cash and cash equivalents, which is nearly 2 times higher than in the third quarter of 2013.
The loan portfolio grew by 21.9 percent and amounted to 8.2 million GEL. For comparison, at the end of September 2013, the figure was 6.72 million GEL. More than 47 percent of issued loans are loans in national currency (3.9 million GEL), and amount equivalent to 4.28 million GEL 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 September 2014 amounted to 1.47 million GEL.
The total volume of the bank's liabilities in the reporting period amounted to 7.1 million GEL, and increased by 2.6 times during the year. The structure of liabilities funds deposited on current accounts grew by 3.3 times during the year and amounted to 1.33 million GEL. Bank attracted term deposits by 4.94 million GEL, of which 4.91 million GEL fell on deposits in foreign currency and some 20,400 GEL fell on deposits in national currency.
The authorized capital of the Caucasian Development Bank - Georgia was 20.04 million GEL as of the end of September of this year. The total capital of the bank amounted to 20.28 million GEL (including 237,690 GEL of retained earnings). Its volume grew by 36.3 percent, for comparison, at the end of the third quarter of 2013, the figure was 14.88 million GEL.
Net interest income for the second quarter amounted to 810,670 GEL, which is 2.2 times more than what was obtained in the same period of last year (375,090 GEL).
The Bank completed the second quarter with a net profit in the amount of 149,030 GEL.
"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.
