The capital of the Bank of Baku reduced by a half

Over the  past 12 months,  the capital of "Bank of Baku" declined by about  two times, and  totaled for the beginning of July, 64.7 million manat. The Bank does not disclose detailed reporting on revenues. However, the balance sheet is expiring,  and in the first half of this year it  worked at a loss in the amount about 200,000 manat, while in the same period in 2015 undistributed profit of the bank exceeded 47 million  AZN.

In annual terms, the assets of the "Bank of Baku" decreased by about a quarter and up to the beginning of July 2016 by  587, 3 million manat.  The credit portfolio  decreased by 213 million manat, and the bank's loan portfolio fell to 327 million manat.  The deposit  of the clients of the bank  reduced by 132 million manat the volume of  deposit  of the customers of the bank.  For July 1, the volume of deposits totaled 306 million manat.

The OJSC "Bank of Baku" is valid since 2005. The authorized capital is  52.8 million manat. Its shareholders consist of: "NAB Holding" (Turkey) - 35%, "Azpetrol Neft Sirketi" - 28,89%, Hikmat Ismayilov - 31.11% and Elchin Isayev - 5%. In 2015, Hikmet Ismayilov increased stake in the bank to 10% by buying shares from "NAB Holding" (5%) and Elchin Isayev (5%). --08B--