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Saturday, February 29, 2020

Ata Bank assets grow by 22.3 percent

Ata Bank OJSC released its financial reports for the end of September on Monday, revealing a growth in assets among other items.

Assets rose up by $106.86 million, up 22.3 percent from last year. This increase can be partially attributed to the increase in the credit portfolio by 39.1 percent, equaling $120.36 million manats.

The bank saw growth in both term deposits and authorized capital, increasing 31.6 percent and 18.7 percent respectively.

The bank is hoping to help develop the national economy of Azerbaijan. Its focus going into 2014 was to finance multiple sectors of the economy, lending as much as $253.86 million manats to legal and business entities in the country. This amounted to a 29 percent increase.

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Ata Bank - Azerbaijan

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