OREANDA-NEWS. November 20, 2009. DemirBank has summarized its financial performance for Jan-Oct 2009.

The Bank reports that as of 1st November 2009 its assets amounted AZN 256.3 million which exceeds the 2008 same term’s indicator by AZN 43.8 million or 20.6%.

“Our loan portfolio also increased this year and reached AZN 187.8 million. Total value of customer deposits by this November is equal to AZN 90.6 million which exceeds the 2008 same period’s index by 63.5% or AZN 35.2 million.

Population’s deposits reached AZN 63.6 million with rise of 56.3% or AZN 22.9 million. This is another evidence of our successful functioning,” the Bank reports.

As of 1st November 2009 DemirBank’s charter capital totaled AZN 16.4 million, while total regulatory capital reached AZN 45.5 million.

One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations 20 years ago in October 1989. Among the Bank’s shareholders are such large international financial institutions as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).