name: Kapital Bank
Kapital Bank was formerly known as the General Joint-Stock Bank of the United States. The bank is the three largest state-owned bank of Azerbaijan. It was formed by the merger of Azerbaijan’s Agriculture, Industrial Investment Bank, Investment Bank and Savings Bank in 2000.
In January 2005, the bank changed its name to Kapital Bank. As the successor of the savings bank, its history can be traced back to 1874, and it was originally the first savings bank in Baku. Its shareholder is PASHA Holding Company, which owns 99.76% of its shares.
Kapital Bank provides financing services for the main economic industries of Azerbaijan, namely chemical, natural gas, industry, agriculture, transportation, communications and construction industries. It is a socially important bank-the national correspondent bank implements major national and social programs.
Kapital Bank has 89 branches and 11 branches in various regions of Azerbaijan and Baku. Ernst & Young is its auditor.
In 2009, it was rated by Fitch International and Moody’s International. In 2012, Fitch Ratings was-the long-term issuer default and support rating bottom line’B +’, the support rating was ‘4’, the individual rating was’D /E’, and the outlook was stable. Moody’s International-‘B1′ for long-term foreign currency deposits,’NP’ for short-term local currency deposits, and’E+’ for financial strength. All ratings are stable prospects.
On June 10, 2013, the Kapital Bank Supervisory Board decided to appoint Rovshan Allahverdiyev as the Chairman of the Management Board, and the Chairman of the Supervisory Board was Mir Jamal Pashayev.
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