NIKoil's credit portfolio to reach $100m in 2007

Bank told the APA that it plans to open 8 branches in the capital and regions, and to gain $2m-profit in 2007.

Its credit portfolio increased by 2.5 times to AZN 51.7m ($59.4m), deposit portfolio increased by 2.3 times to AZN 27.2m ($31.2m) last year. Bank's authorized capital doubled to $10m in 2006.

Its aggregate incomes hit AZN 4.7m ($5.42m) with a profit of AZN 1.31m ($1.51m) in 2006.

Last year the Bank opened three departments in Baku and a regional branch in Ganja and its clientele more then doubled to 15,300 customers.