Baku, Azerbaijan, Sept. 25
By Azad Hasanli - Trend:
Kapital Bank, one of the biggest retail banks of Azerbaijan, almost doubled its net profit in the second quarter of 2018 compared to the first quarter, to 41.67 million manats, reads the bank’s financial report.
Interest income of the bank amounted to 73.5 million manats, non-interest income stood at 70.58 million manats. Interest expenses amounted to 38.8 million manats, non-interest expenses stood at 75.44 million manats. Operating profit of the bank amounted to 50.18 million manats, while deductions for the creation of reserves to cover possible losses stood at 21.9 million manats.
During the reporting period, the bank paid income taxes worth 11.23 million manats.
The total assets of Kapital Bank amounted to 3.57 billion manats, which is a 12.8 percent increase for the quarter. Cash at the disposal of the bank amounted to 425.8 million manats, funds on the correspondent account in the Central Bank of Azerbaijan (CBA) amounted to 610.86 million manats, while funds on correspondent accounts in other banks (nostro accounts) stood at 85.6 million manats. Deposits in financial institutions amounted to 637.15 million manats.
For the second quarter of this year, the bank increased investments in securities by 34.2 percent, to 408.67 million manats.
The loan portfolio of the bank amounted to 1.3 billion manats (a 8.6 percent growth for the quarter). Regarding the issued loans, targeted loans worth almost 204 million manats were created.
As for the bank’s liabilities, they increased by 13.4 percent for the second quarter of 2018 and reached 3.3 billion manats. Deposits of customers accounted for 2.82 billion manats (a 15.6 percent increase), deposits of banks accounted for 198.14 million manats (a 13.6 percent decrease), while deposits of other financial institutions accounted for 71.87 million manats (a 1 percent decrease).
The share capital of the bank is 185.85 million manats.
(1.7 manats = 1 USD on Sept. 25)
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