BAKU, Azerbaijan, June 10. The placement of Kapital Bank bonds is a significant boost to the development of Azerbaijan's financial market, said Oktay Gasimov, Chief Commercial Officer of the Baku Stock Exchange,
He made the remark at the opening ceremony for Kapital Bank bond trading.
"This move is a major contribution to the growth of Azerbaijan's financial market. The issuance of Kapital Bank bonds broadens investment opportunities for market participants and opens new prospects for both private and institutional investors. We are confident that this project will be a key milestone in building trust in the exchange and developing the country's capital markets, providing a reliable tool for portfolio diversification and risk management," he said.
As of the end of 2023, Kapital Bank's assets totaled 8.659 billion manat ($5 billion), liabilities were 7.748 billion manat ($4.5 billion), the bank's equity stood at 911.289 million manat ($536 million), and the authorized capital was 265.85 million manat ($156.3 million).
Kapital Bank's net profit for 2023 was 242.209 million manat (143 million).
Additionally, the Baku Stock Exchange had a turnover of 27.335 billion manat ($16 billion) in 2023, which is 1.8 times higher than in 2022.