BAKU, Azerbaijan, December 19. Kapital Bank has held a press conference on 2024 results and plans for 2025, Trend reports.
According to the information, the main topics of the press conference included financial indicators and statistics of 2024, innovations and statistics for SME clients, digitalization, cybersecurity, current and planned projects for the near future, and plans for 2025.
The member of the board and chief financial administrator of Kapital Bank Emin Mammadov said that Kapital Bank's assets exceeded 10 billion manat ($5.8 billion) as of November 1 of this year.
“The bank's assets amounted to 10 billion manat ($5.8 billion) as of November 1 of this year, which is 15 percent more compared to the same period last year. Dividends amounting to 176 million manat ($103.5 million) were paid in 2024 based on last year's results," he said.
According to him, Kapital Bank is working on diversifying its assets.
"In the credit portfolio, more attention is also being paid to loans for small and medium-sized businesses, as well as mortgage loans," he added.
Javid Mirzayev, a member of the board and Chief Risk Officer at Kapital Bank noted that a total of 194,347 transactions and 3,753 card accounts of 142,250 unique clients were blocked due to suspected fraudulent activities from January through November of this year.
"This is twice as much as last year. Analysis shows that fraudsters often exploit people's trust by spreading videos and promotional texts on social media, promising easy profits, discounted goods, or other 'attractive offers'. As a result, clients click on fake links, enter their card details, or share them with third parties.
We are actively combating fraudulent websites and social media accounts. In the first 11 months of this year, we filed complaints and successfully had 105 fake websites and nearly 1,000 social media accounts blocked. In comparison, in 2023, we blocked 90 websites and over 800 accounts.
We plan to continue and expand these efforts next year," he emphasized.
The the chairperson of the board and CEO of Kapital Bank Farid Huseynov said that Kapital Bank will start the transformation of the Kapital Bank brand into the Birbank brand in the first quarter of 2025.
“As you know, we made Birbank the country's first digital bank in 2021 by introducing the possibility of fully online ordering of loans and cards. Our customers have welcomed this innovation positively. Today, with over 3 million monthly active users, Birbank has become as strong a brand as Kapital Bank. Our plans for the future are related to further digitalization, the introduction of modern technologies, and artificial intelligence. That is why from the first quarter of 2025 we will start transforming the Kapital Bank brand into the Birbank brand.
This does not mean that Kapital Bank will completely disappear. You will see Kapital Bank as a financial institution and a corporate brand. We will offer all our products and services to our customers under the Birbank brand. We, like our customers, will become part of Birbank. If you ask whether something will change in their attitude toward customers, the answer is yes, customers will feel this change to a greater extent.
Birbank can be characterized as a younger, more dynamic, nimble, digital, and innovative brand. And all of this will be reflected in an improved customer experience. Our customers will be able to access all products and services through the Birbank website and app. In addition, Kapital Bank branches will also be transformed into Birbank branches, and this process will take about two years,” Huseynov said.
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