OREANDA-NEWS. February 6, 2009. Parabank OJSC has reported that the past year became for it the year of high growth on key figures of financial performance.

In partyicular last year its assets rose by 58.5% and as of 1 January 2009 reached the level of AZN 65.6 million.

By January 2009 Bank’s overall capital totaled AZN 12.4 million and charter capital AZN 10.1 million.

For the reported period Parabank deposit and credit portfolios doubled. In 2008 deposit portfolio increased by 94.9% and reached AZN 35.9 million by this January. For the past year the Bank offered four new deposit products for its customers. Volume of individuals’ newly-opened deposits for 2008 more than doubled and reached AZN 32.3 million by January 2009. Parabank individuals’ demand deposits grew by 19% for the past year.

Last year Parabank credit portfolio rose by 95.0% and by the end of the reported period totaled AZN 42.3 million. Amount of consumer loans disbursed to individuals made up AZN 5.1 million by January 2009. In December 2008 alone volume of Bank’s consumer loans increased by 27.1%.

Overall earnings from last year’s activities totaled AZN 10.1 million that is by 70.0% more compared with the 2007 figure. For the passed year the Bank received interest rate proceeds for AZN 8.2 million and non-interest rate revenues for AZN 1.9 million.

By the end of 2008 quantity of cards issued by the Parabank reached 1,782, while number of operating cash machines made 9 and РОS terminals 143.

In 2008 the Bank opened 4 new branches. For the reported period quantity of its officials increased by 37.4% and as of 1 January 2009 reached 301 people.

“The past year became one of the successful for our Bank. Gradual expansion of service network, increase of list of products and services, including introduction of new products at the market answering to demands played an important role in achievement of high results. But the main factor of maintenance of high growth pace for entire 2008 was trust of our customers. We are going to do our best to strengthen customers’ confidence to our Bank in 2009 and will gladden them with new modern products,” Parabank chairman of board Veli Guliyev said.