Industry Banking Website www.kapitalbank.az Founded 1874 Number of employees 2,030 | Area served Azerbaijan Headquarters Baku Number of locations 90 Type of business Open Joint-Stock Company | |
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Key people Jalal Gasimov,
Chairman of the Supervisory Board
Rovshan Allahverdiyev, Chairman of the Management Board Products Cash consumer loans
BirKart Owner PASHA Holding LLC (99.87%) | ||
Founded in 1874 as Azerbaijan Savings Ban. Headquartered in Baku, Bank has 90 branches covering the country.
History
The bank was established in 2000 as a result of the merging of three major state banks in Azerbaijan, i.e. Agro-Investment Bank, Industrial-Investment Bank and Savings Bank. It was renamed to Kapital Bank in January, 2005. Being a successor of Savings Bank, it dates its history back to 1874 when the first branch of the Saving Bank had been opened in Baku.
Between 2000 and 2006 the company ownership changed and PASHA Holding LLC became the majority owner holding 99.87% of the shares. The shareholders' equity announced at the amount of AZN 185 mln ($176 mln) and makes up AZN 50 mln.
Ernst & Young company is the official auditor of the Kapital Bank. In 2012 the Bank was assigned with the international ratings by Fitch Ratings and Moody's International. The ratings were as follows: from Fitch Ratings - Long-term Issuer default and Support Rating Floor "B+"; Support rating "4"; Individual rating "D/E"; Stable Outlook. From Moody's International - "Ba3" long-term foreign currency deposit ratings, "NP" short-term local currency deposit ratings and an "E+" financial strength rating (FSR). All ratings carry stable outlooks.
The Bank's customer base is also steadily increases: more than 22,000 legal entities and more than 3 mln.individuals.
By the decision of the Supervisory Board dated by June 10, 2013 Mr. Rovshan Allahverdiyev was appointed the Kapital Bank Management Board's Chairman.