Azerbaijan’s Kapital Bank reduces liabilities
Baku, Azerbaijan, Aug. 25
By Azad Hasanli – Trend:
Since early 2016, Azerbaijan’s Kapital Bank OJSC reduced its liabilities to the country’s Central Bank (CBA) by 19.5 percent – from 103.1 million to 83 million manats, according to the bank’s report.
Total liabilities of the bank increased by 17.5 percent since early 2016 and amounted to 2.03 billion manats in late June 2016. A major part of the bank’s total funding accounted for client deposits (1.16 billion manats) and deposits of banks and financial institutions (577.5 million manats), except for loro accounts.
Client deposits increased by 2.65 percent compared to late 2015 and deposits of banks rose by 4.5 times.
During the reporting period, the volume of loans issued by financial institutions for Kapital Bank reached 68.2 million manats.
Assets of Kapital Bank increased by 13.4 percent – to 2.3 billion manats in 1H2016. The bank’s available funds decreased by 50.6 percent during 1H2016 and totaled 290.35 million manats. About a third of Kapital Bank’s assets are concentrated in deposit accounts at banks and financial institutions (230.84 million manats), correspondent account at the CBA (278.2 million manats) and at other banks (254.05 million manats). Meanwhile, the bank invested 20.6 million manats in securities.
Since early 2016, Kapital Bank’s loan portfolio increased by 7 percent and reached 1.18 billion manats.
Founded in 1874 as Azerbaijan Savings Bank, today Kapital Bank is one of Azerbaijan’s largest banks serving more than three million customers. Kapital Bank provides services to people in 90 branches and two offices throughout the country and has the most extensive service network.