In the first half of 2014 JSC Capitalbank improved financial performance. Operating and interest income of the bank amounted to 82.365 million manat, and the value of the total capital (238 million AZN) to risk-weighted final assets (929 mln AZN) exceeded 25%.
According to the financial report, the bank expenses for the first six months amounted to more than 54 million AZN and, taking into account other income, it received 32 million AZN as profit. This is more than 2 times higher than in the same period last year. After tax profits, the bank earned 25.729 million manat of net profit. Each share was 1.4 manat profit. Besides, the bank had reserved 58.8 million AZN to cover potential losses on assets.
With assets of 1 billion 268 million AZN the bank has liabilities amounting to 1 billion 23.2 million AZN. Equity attributable to the shareholders exceeds 244 million AZN.
JSC Capitalbank is controlled by the LLC Pasha Holding, which owns 99.84% of its shares. The bank has started a sustainable dividend policy, paying on the basis of 2013 dividends totaling 21.3 million AZN. --08B ---
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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