Bank fetches AZM25.6bn

In 14 months of work, the Universal Joint Stock Bank (UJSB) earned AZM25.6 billion, of which profit constituted AZM4.5 billion. Of this, AZM7.3 billion and AZM2.3 billion respectively were earned in the first quarter of 2001, chairman of the UJSB Board of Directors Zakir Zeynalov told a news conference at the “Yeni Azerbaijan Party” Friday.

He then spoke of the road the Bank has covered since being founded on February 21, 2000 as a result of the merger of the “Agri-Industrial Bank”, “Industrial Investment Bank” and “Savings Bank”. The bank has 88 affiliates throughout the country with assets totaling AZM146 billion.

Population keeps AZM48 billion in the Bank, or 12% of all bank deposits in Azerbaijan. Offered interest on sight deposits is 2%, urgent deposits 6% and bonus deposits 8%. Also accepted are hard currency deposits.*