NDC unveils annual report for international prize

For the annual report on the results of 2011 JSC National Depository Center (NDC) was awarded the silver prize of the festival Best of Central Asia in 2013 on the Design nomination.

However, one should take into account that the NDC, as the sole depository of securities in Azerbaijan did not announce annual reports since 2008.

The design Report -2011 was developed by Yellow Advertising Lab. The report consists of 142 pages and several parts: welcome partners, structure, performance of economic and technical work, financial report accompanied by an auditor's report . The report is accompanied by eye-catching graphic drawings for the reader .

NDC Annual Report for the year 2011 was posted on the corporate website depositary this week.

According to the report, the number of companies it serves has grown since 2007 from 1,579 to 1,645 JSC and LLC. In 2011, the depositary assets rose by 7 % to 2,578 thousand manats. Thus, even with a deduction of rent in the amount of 221.3 thousand manats the operating income of NDC ( 1,111.5 thousand manats) did not cover its operating costs (1,131.1 thousand manats). By the end of 2011 NDC deposits in the bank reached 1.6 million manat. NDC customers by the end of 2011 were in debt to it in the amount of 41.6 thousand manats.

A former employee of NDC in 2011 reduced the debts caused by material losses from 57.3 thousand to 51.2 thousand manats. For the same losses the NDC debts to customers reached 116 thousand manats. NDC does not report what kind of debt is in question. But we know that a theft by an NSC employee has been previously disclosed, regarding the stored state privatization shares owned by foreign investors.

NDC, whose shares ar solely owned by the state in the face of SCS, has been operating since 1997 and has 54 employees. -08D-

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