In the first quarter of 2015 operating income of "Kapital Bank" has exceeded 40.5 million manats. The bank's assets for the quarter increased by 25.6%.
According to the financial statements, interest income and other similar operations over three months amounted to 66.2 million manats, and its own costs of the bank paid interest - 17.8 million manats. During this period, non-interest expenses (38,5 mln. Manat) of JSC "Kapital Bank" exceeded similar revenues of 7.8 million manat. Thus, the operating profit for the quarter was $40,574,000 manat, of which 13.3 million manats were directed to reserves for possible losses of assets.
The bank got tax profit 27.2 million manats, which has been accrued tax (20%) in the amount of 5.5 million manats. As a result, the shareholders of the bank earned in the first quarter 21,688,000 manats.
On April 1, the assets of "Kapital Bank" totaled one billion 727.2 million manats, which is by 352 million manat more than in the beginning of this year. Since the beginning of the year the loan portfolio of the bank (1 million. 40.9 million manat) increased by 163 million manats.
The authorized capital of "Kapital Bank" is 185 million manat. Total 15 million shares of the bank were issued. The Bank is a subsidiary company of "Pasha Holding" (99,87% shares.)-- 08D-
Economics
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The Azerbaijani government is determined to stabilize oil production. This intention was announced by President Ilham Aliyev earlier this year. "Work is underway to stabilize oil production, and I believe we will see results in the near future. We need stable oil production, and this task has been set before the investors," he remarked during one of his speeches.
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Representatives from the World Bank, Azerbaijan’s Ministry of Digital Development and Transport, and the leadership of the Baku International Sea Trade Port (BISTP) convened in Alat on Monday to discuss the implementation of the second phase of the port’s development, the largest on the Caspian Sea.
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Investments in Azerbaijan's fixed capital totaled 15.91 billion manats ($9.36 billion) in the first 11 months of 2024, marking a 3.8% decline compared to the same period last year, official data showed on Thursday by the State Statistics Committee.
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Discussions surrounding the implementation of a landmark renewable energy project on the Absheron Peninsula took center stage at a December 11 meeting hosted by Azerbaijan’s State Agency for Renewable Energy (AREA) under the Ministry of Energy. The project, initiated through a memorandum of understanding signed on March 1 in Baku, involves collaboration with the Spanish engineering giant Elecnor.
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