Liabilities of Azerbaijan’s Xalq Kapital down by one third

Finance Materials 29 August 2019 10:50 (UTC +04:00)

Baku, Azerbaijan, Aug. 29

By Eldar Janashvili – Trend:

The total assets of the Azerbaijani investment company Xalq Kapital amounted to 578 million manats in the balance sheet for 2018, Trend reports referring to the organization’s audit report.

The organization’s assets grew by 28.5 percent compared to the preceding year. About 93.5 percent of the assets accounted for investment securities at 540,900 manats (increase of more than three times over the year). The volume of cash and cash equivalents amounted to 17,700 manats, having decreased almost fourfold.

Intangible assets on an annualized basis doubled and amounted to 5,000 manats. The total volume of obligations on an annualized basis decreased by 33 percent and amounted to 38,400 manats. At the same time, over two thirds of the volume of obligations (67.7 percent) accounted for urgent payment of income tax in the amount of 26,000 manats.

Total capital increased by 37.4 percent and amounted to 540,000 manats, mainly due to covering a loss of 27,000 manats and retained earnings in the amount of 120,000 manats.

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