Baku, Azerbaijan, March 28
By Abbas Akhundov - Trend:
The assets of Azerbaijani insurance company Bakı Sigorta based on the performance in 2013 amounted to 14.16 million manat compared to 15.39 million manat at the beginning of the year, decreasing by nearly eight percent, according to the company's balance sheet, posted on the local media on March 28.
The financial statements of the Bakı Sigorta audited by the "G & A Auditor Firması" LLC.
The long-term assets of the company amounted to 1.67 million manat, and the short term assets- 12.49 million manat at the end of 2013.
Some 9.21 million manat accumulated in cash and in their equivalents, including deposit accounts - 8.29 million manat in 2013.
The company`s paid up authorized capital, stood at 6.52 million manat according to the results of 2013 and remained unchanged in comparison with 2012.
The total capital of the company amounted to 8.24 million manat at the end of last year, with 3.9 percent growth compared to 2012.Company's total liabilities amounted to 5.92 million manat.
The company's revenues amounted to 9.97 million manat and expenses amounted to 9.59 million manat last year. The company completed 2013 with a net profit of 386.680 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.
Official exchange rate on March 28 is 0,7843 AZN / USD.
Translated by S.I.
