KapitalBank predicts a 19% rise in assets by 2010

KapitalBank predicts a 19% rise in assets by 2010
# 30 October 2008 10:32 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s Kapital Bank predicts to achieve an 18.8% growth in assets to AZN 500 million by 2010.
The bank said assets will grow to AZN 450 million in 2009.
As at October 1, Kapital Bank’s assets stood at AZN 422.448 million, up 92.7% on the same period last year.
For January-September, revenues rose 66.9% to AZN 44 million and expenditures increased 89.3% to AZN 20 million. Profit jumped to AZN 6.112 million.
Operating revenue accounted for 47% of total revenue.
Kapital Bank has been in operation since 2000. The bank operates 90 branches, 267 ATMs and 443 POS terminals at present.
After privatization, Kapital Bank is owned by AtaHolding (30%), Pasha Holding (30%), Khalg Sighorta (15%), Azersun Holding (10%), individuals (10%) and the bank staff (5%).
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