Azerbaijan’s National Depository Center increases assets

Business Materials 24 June 2019 11:32 (UTC +04:00)

Baku, Azerbaijan, June 24

By Kheyraddin Nasirzade - Trend:

In 2018, Azerbaijan’s National Depository Center increased its total assets by 73.9 percent, Trend reports with reference to the audited report conducted by Baker Tilly Audit Azerbaijan CJSC.

The total assets of the center amounted to 29.478 million manats, according to the report. In the asset structure, long-term assets compared to 2017 decreased by 1.4 percent, reaching 3.117 million manats.

Fixed assets in the form of real estate and equipment amounted to 464,487 manats. Intangible assets, slightly increasing, reached 2.286 million manats. The volume of investment property decreased by 4.1 percent, to 343,946 manats. The deferred income tax asset amounted to 21,362 manats. The volume of investments compared to 2017 remained unchanged – 1,585 manats.

The volume of short-term financial assets decreased by 3.6 times, reaching 694,650 manats. The volume of cash and balances in bank accounts increased significantly over the year by 2.3 times to 25.583 million manats. Other current assets decreased by 3.4 times, reaching 82,225 manats.

The volume of short-term liabilities increased almost 2.3 times, reaching 23.233 million manats. Accounts payable amounted to 25,622 manats.

The total capital increased by 2.8 percent, reaching 6.218 million manats. The growth is observed due to an increase in the volume of capital reserves by 5.3 percent, up to 3.39 million manats. The authorized capital remained unchanged and amounted to 2.7 million manats. Retained earnings amounted to 128,052 manats.

The operating income of the center decreased by 29.3 percent, reaching 2.596 million manats. Expenditures also decreased by almost 32 percent, reaching 2.532 million manats. As a result, operating profit amounted to 64,678 manats.

Financial income of the center amounted to 169,134 manats. After deducting income tax in the amount of 62,675 manats, net profit amounted to 170,136 manats.