АAzerbaijan, Baku, 18 April /corr. Trend U.Ismaylova / The assets of Azerbaijan's half-privatized State Kapital Bank totaled AZN 260mln as a result of Jan-March, the Chairman of Bank's Board, Rauf Rzayev, said on 18 April.
"The revenues of the Bank in the first quarter made up AZN 11.4mln, against AZN 7.4mln in the first quarter of 2007," he said.
According to Rzayev, the net profits of the Bank as a result of three months of 2008 amounted to AZN 2.8mln.
The aggregate capital of the Bank on local standards totals AZN 40mln and international standards - AZN 70mln. According to Rzayev, the 30mln difference arises because of the fact that several funds are not taken into consideration in the local standards while the same are considered in the international standards.
Speaking of the strategic plans of Kapital Bank for 2008-2010, Rzayev said that by the end of year Bank intends to purchase additional 80 ATMs and POS-terminals because of the increasing demand.
At present, the Bank has 235 ATMs and 470 POS-terminals all over the Republic.
In addition, Rzayev said that in May, Kapital Bank will conclude a contract with the Black Sea Trade and Development Bank on allocation of $12mln loan. "The loan obtained will be directed towards developing our own mortgage program," Rzayev said.
In 2007, half of the Kapital Bank was privatized, and as a result, the authorized capital of the Bank totaled AZN 24mln. About 20% of the participation share in Kapital Bank was acquired by Ata Holding and Xalg Bank each, and 10% - Azersun Holding.
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