OREANDA-NEWS. October 22, 2009. Bank Respublika’s assets reached AZN 364,500,000. In the assets profile, the Bank’s credit portfolio balance totalled AZN 295,500,000 for the reporting date, reported the press-centre of Bank Respublika.

Since the beginning of the year, customer deposits also grew by 10.4% and now exceed AZN 149,900,000. Termed deposits with Bank Respublika increased by 32% between January and September, reaching AZN 104,900,000. Deposits of the population increased by 38.1% and totalled AZN 88,600,000, as compared to AZN 64.200,000 for January 1, 2009.

According to the operating results, in January-September 2009, Bank Respublika’s income totaled AZN 43,200,000, and its expenses amounted to AZN 34,900,000. The Bank’s income balance equaled AZN 8,300,000 within the period covered by the report.

In the beginning of September 2009, a new branch of Bank Respublika was opened in Zaqatala, on Faiq Amirov str. 4. The branch was opened as part of the strategy for branch network expansion in the regions of the country. On September 15, 2009 the Bank launched a new prize draw for its depositors, with a Mazda3 car being the main prize. The campaign will run until March 15, 2010. Any customer who has held a deposit of at least AZN/USD/EUR 1,000 at Bank Respublika for at least 12 months is eligible for the draw. Every deposit of AZN/USD/EUR 1,000 is valid for one chance to win one of the 7 gold bars of pure 999.9 gold, while on March 15, 2009 one of the Bank’s depositors will become the owner of the Mazda3 car.

Bank Respublika started its operations in 1992 and is now one of the leading banks of Azerbaijan. The Bank's shareholders include 2 of Germany's largest financial organizations – DEG, a member of the KfW banking group, and SIDT, a member of Sparkassen-Finanzgruppe, which hold a package of 25% + 1 share in the bank.  As of October 1, 2009, the total assets of Bank Respublika amounts to AZN 56,200,000, while the authorized capital totals AZN 22,600,000. 34 branches and services points of Bank Respublika operate in Baku and various regions of the country.