How Bank Avrasiya Survived

JSC Bank Avrasiya is one of those, which managed to increase its authorized capital by more than twofold late in 2014. Its other formal indicators are not that good, indicating that the capital was raised from outside.

As the bank said, as of 1 January this year its assets grew by 17.6% to 95 million 878.8 thousand manat.

The loan portfolio was at the level of 58 million 571.4 thousand manat (+ 8.6%) with the outflow of investors (minus 20%) - 16 million 37 thousand manat (a decline of 20%). The bank's liabilities to the beginning of the year amounted to 44 million 446.3 thousand manat (minus 24%).

By January 1, 2015 the bank's capital amounted to 51 million 432.5 thousand manat (an increase of 2.2 times), and the authorized capital was 50 million manat (an increase of 2.3 times).

The bank operated without profit - the net loss amounted to 9.3 thousand manat.

JSC Bank Avrasiya received its banking license on November 28, 2007. Its founders are 3 LLC? according to the latest figures: Euro Standard (37.5%), Galaktik (37.5%) and Azbizneskom (25%).

Recall LLC Euro Standard is part of the "family business" with "famous" residence permit at 7-3 Samed Vurgun Street. In the banking community Bank Avrasiya is perceived as a structure of the brother-in-law of the President, Araz Agalarov, who lives in Russia. --17D-