Azerbaijan, Baku, April 2 / Trend A.Akhundov /
Assets of Azerbaijani insurance company Bakı Sigorta based on performance in 2012 amounted to 15.37 million manat compared to 12.34 million manat at the beginning of the year. This is an increase of nearly a quarter, according to the company's balance sheet published in the official press on Tuesday.
The company's financial statements were audited by the G & A Auditor Firması Ltd.
Long term assets of the company at the end of 2012 amounted to 1.44 million manat, short term assets - 13.93 million manat.
In 2012, the company accumulated 8.34 million manat in cash and cash equivalents, including deposit accounts of 5.89 million manat and 2.02 million manat on current accounts.
The paid-up share capital of Bakı Sigorta stood at 6.52 million manat up to 2012 and remained unchanged in comparison with 2011.
The company's aggregate capital by the end of last year amounted to 7.92 million manat, or 24 per cent more than in 2011.
The aggregate liabilities of the company amounted to 7.42 million manat, and capital and liabilities as a whole - 15.37 million manat, or 25 per cent more compared to 12.34 million at the beginning of the year.
The company's revenues last year amounted to 6.57 million manat with expenses at 5.91 million manat. The company completed 2012 with a net profit of 523,870 manat.
Controlling interest in Bakı Sigorta is owned by Bank Respublika JSC (51 per cent). The company has been operating since August 28, 2007 and has a perpetual licence for the provision of 25 voluntary types of insurance services.
The official exchange rate on April 2 is 0.7846 AZN / USD.
