AtaBank declares 2.3 net profit growth over 1st quarter
Baku, Fineko/abc.az. AtaBank OJSC has summarized the results of the financial and economic activity for the 1st quarter of 2012.
The Bank reports that compared to the 2010 same term, its net assets increased by 12% or AZN 24.3 million up to AZN 227.1 million this year.
The credit portfolio made the basis of the assets. It increased by 17.4% or AZN 22.9 million. Banks loan portfolio by the end of March reached AZN 154.5 million.
Compared to the end of March 2011, the AtaBank’s total portfolio of term deposits grew substantially. This index increased by 11.8% or AZN 17.3 million up to AZN 163.4 million. By the end of 2011 it amounted to AZN 146.1 million. Besides, the Bank observed an increase in term deposits. They grew by 36.9% and exceeded AZN 106 million.
Following the results of March 2012 return on assets (ROA) and equity (ROE) of the Bank amounted to 0.52% and 4.69% respectively and the network of POS-terminals was expanded up to 2,000 devices.
By the end of March, AtaBank’s net profit totaled AZN 1.2 million. Compared with 2011, this figure increased by 2.3 times. By the end of the reported term the charter and overall capitals amounted to AZN 25 million and AZN 30.4 million respectively.
"Growth of financial indicators and successful continuation of institutional development will be an integral part of Bank’s strategic development this year. At the same time, AtaBank plans opening of some electronic branches and subsidiaries. Currently, international auditing company Deloitte & Touche is auditing the financial and economic indicators of the Bank for 2011," it was reported.
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