In 2014 OJSC Capital Bank earned 65.9 million of net profit, which is two times more than in the previous year.
According to the profit and loss account, in the past year the interest and similar income of Capital Bank amounted to 125 million manat, and the non-interest income was 75 million manat. The operating profit amounted to approximately 85 million manat, 43 million manat more than in 2013.
The accrued amount of tax on profits was 16 million 142.6 thousand manat.
It should be noted that last year the bank's shareholders sent the profit (21 million) for the payment of dividends, and the retained earnings for the previous year was sent to increase the share capital.
On 31 March 2015 the authorized capital of Capital Bank was 185 million manat. At the beginning of the year retained earnings of the bank exceeded 86 million manat The bank's assets grew by 31% and reached 1 billion 380 million manat by January 1, 2015.
LLC Pasha Holding has 99.87% of the shares of Capital Bank. The remaining 0.13% of the shares is divided among 170 minority shareholders.
The nominal value of one share of the bank is 12.39 manat. ----08B
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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