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Kapital Bank sees sharp decline in deposit portfolio

20 April 2009 12:49 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. Azerbaijan-based Kapital Bank posted a AZN 6.83 million profit for January-March, up 2.9 times on a year ago.

As of April 1, deposit portfolio reached AZN 174.91 million, down 63.71% or AZN 307.064 million from early this year, said the bank.

Personal deposits made AZN 123.90 million, including call deposits making AZN 48.78 million and term deposits AZN 72.12 million.

The bankâ€™s total equity capital rose by 6.74% to AZN 76.76 million and authorized capital stood at AZN 24 million.

The Bank was registered originally under the name of Universal Joint Stock Bank but renamed in 2005 as Kapital Bank.

After privatization, Kapital Bank is owned by AtaHolding (35%), Pasha Holding (15%), Khalg Bank (20), Khalg Sighorta (7.5%), Azersun Holding (15%), individuals (5%) and the bank staff (2.5%).