At the May 27 general meeting of shareholders on the results of 2013, it was decided to send the net profit of JSC Capital Bank for the payment of dividends to the shareholders. The bank also increased its registered capital by 24 % due to retained earnings at the end of 2012.
By the end of 2013 the shareholders received dividends totaling 21 million 301 thousand manats. Stock returns at face value of AZN 10 were 14%. Profit of 35 million 850 thousand manats will be forwarded to increase the authorized capital. Thus, the nominal value of the shares was brought to AZN 12.39.
Shareholders of Capital Bank approved the report for 2013. The Management Board informed the shareholders that the preliminary figures give grounds for assuming a higher return on equity.
JSC Capital Bank has about 170 shareholders. The holder of 99.84 % of its shares is LLC Pasha Holding. The bank was privatized in 2007. Since that time, no dividends were paid and the authorized capital was increased from 24 million to 150 million manat. -08B-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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