BAKU, Azerbaijan, December 8. Azerbaijan's Kapital Bank has no plans to buy Nakhchivanbank, said Deputy Chairman of the Board of Directors at Kapital Bank OJSC Farid Huseynov, Trend reports.
He made the remark during a press conference dedicated to the results of the year and the strategy for 2024-2026.
On December 5, it was revealed that a part of the loan portfolio of Nakhchivanbank OJSC had been transferred to Kapital Bank. Farid Huseynov noted that the bank has acquired part of Nakhchivanbank's consumer loan portfolio worth 60 million manat ($35.29 million).
"However, we can regularly negotiate the acquisition of any asset in various banking and non-banking credit organizations," he said.
Part of the consumer loans of Nakhchivanbank OJSC were transferred to Kapital Bank OJSC on December 4.
According to the financial report of "Nakhchivanbank OJSC on the results of the third quarter of 2023, the volume of consumer loans amounted to about 100 million manat ($58.8 million).
According to the financial indicators for the third quarter of 2023, Kapital Bank's assets amounted to 8.5 billion manat ($4.99 billion) as of the first of October 2023. The volume of the bank's loan portfolio reached 4 billion manat ($2.35 billion), and the total amount of customer deposits was 6.5 billion manat ($3.8 billion).
As of October 1, 2023, Kapital Bank's total capital after tax amounted to 792 million manat ($465.8 million) and ordinary and preferred shares at 265 million manat ($155.8 million); net profit amounted to 182.012 million manat ($107 million).
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