Kapital Bank Developing New Strategic Business Plan in 2007-2009
Azerbaijan, Baku / corr Trend I.Khalilova / The state-run Kapital Bank have set up the development of a new strategic plan allocated for 2007-2009.
Rauf Rzayev, Chairman of the Managing Board of Kapital Bank stated that a new business forecast will be compiled on the basis of the exact forecast of the banking indices for 2007, which were developed within the framework of the previous plans for 2004.
Rzayev said that the forecast for 2005 and 2006 was over fulfilled, but results of the first six months of 2007 also demonstrated the execution of the forecast by 116% through saving the bank's expenses.
Income on the results of 2007 is expected in the amount of AZN 29.4mln with profits of AZN 5.1mln. Over the first half-year the indices made up AZN 16.2mln and AZN 5.036mln respectively.
Kapital Bank assets rose by 50%, with 400% as compared to data at the end of 2005. The bank's capital increased twice by 350%.