"Kepez" NBCO DISCLOSED successful financial results for 2020

"Kepez" NBCO, one of Azerbaijan's biggest non-banking institutions, revealed its 2020 results. 

In 2020, there was a significant resurgence in NBCO operations, with the loan portfolio, revenue, and profit of the organisation increasing. 

According to the organization's audit report for 2020, "Kepez" NBCO's interest income climbed by 4.8% or 41,098 manats in 2020 compared to 2019, reaching 902,932 manats, while operational earnings amounted to 511,953 manats.

As a consequence, "Kepez" NBCO concluded 2020 with a net profit of 178,997 manats, which is 3,003 manats or 1.7% more than the net profit indication for 2019.

The loan portfolio issued to clients rose by 7.7%, or 198,472 manats, during the reporting period, reaching 2,784,031 manats. The organization's total assets grew by 257,861 manats (9.1%) to 3,104,198 manats.

In addition, NBCO's liabilities climbed by 3.9%, or 78,824 manats, to 2,107,622 manats.

The charter capital of "Kepez" NBCO is now 560,000 manats, with a total capital of 996,575 manats. This is an increase of 178,997 manats, or 21.9%, over the end of 2019.