Bank Standard's assets and deposit portfolio doubled

The First Deputy Chairman of the Management Board of the Bank, Javid Guliyev, said the assets of the bank grew AZN 26.4mln ($30.3mln) or 12% in December, 2006, the APA reports.

During the period of 2006 the total assets of the bank reached AZN 300mln, a record high in the banking history of Azerbaijan. In 2006 the assets grew 15% or AZN 153.5mln (US $176.3mln). As of December 30, the credit portfolio stood at AZN 142.3mln ($163.3mln), having grown 207% or AZN 95.9mln ($110.1mln) from previous year.

Funds in customer accounts rose 190% or AZN 89.9mln (AZ 103.2mln) from previous year to AZN 137mln ($157.4mln).

The total amount of deposits made by individuals and legal bodies went up 224% or AZN 68.3mln ($78.4mln) to AZN 98.8mln ($113.4mln). The aggregate capital enlarged 87% or AZN 10.5mln ($12.1mln) from previous year to AZN 22.5mln ($25.9mln).

Bank Standard's net profit made AZN 4.1mln ($4.7mln), up 225% from previous year.