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Kapital Bank posts 2.3 times assets growth

23 January 2009 10:03 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As at October 1, Azerbaijan-based Kapital Bankâ€™s assets stood at AZN 577.590 million, up 2.3 times on a year ago.
The bank said loan portfolio increased by 3.4 times to AZN 365.847 million, deposit portfolio rose 2.5 times to AZN 481.974 million, total capital more than doubled to AZN 71.910 million and authorized capital remained unchanged at AZN 24 million.
Consumer loans rose by 66% to AZN 62.589 million.
For 2008, revenues rose 65% to AZN 57.911 million and expenditures increased 81.3% to AZN 53.832 million. Profit dropped 25.3% to AZN 4.079 million and net profit fell 19.2% to AZN 3.443 million.
The bank established 1 branch, 3 bureaus of exchange, 66 ATMs, 140 POS terminals over the past year.
The number of employees decreased 7% to 2 053 and salary increased 52.6% to AZN 461.
The bankâ€™s tax expenses fell 47% to AZN 636 000.
Kapital Bank has been in operation since 2000. The bank operates 89 branches, 298 ATMs and 469 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%).