OREANDA-NEWS. April 06, 2012. AGBank published its audited financial statements for the year ended 31 December 2011 prepared in accordance with IFRS.  The audit opinion on 2011 IFRS financial statements was issued by international audit firm KPMG, reported the press-centre of AGBank.

According to the audited IFRS financial statements, the Bank’s total assets reached AZN 318.9 mln at 31 December 2011. In comparison with 2010, total assets of the Bank increased by AZN 69.4 mln or 27.8% mainly due to increase in loans to customers and liquid assets. The Bank’s term deposits increased by 44% and the share capital increased by 1.44 mln AZN in 2011.

Also, the Bank’s net profit for the year ended 31 December 2011 amounted to AZN 3,88 mln and in comparison with 2010 the Bank’s net profit increased by AZN 2,29 mln or 144% (2010 net profit was AZN 1,59 mln).