Azsigorta sees 83% decline in net profit

Economic Department
Author

Azsigorta OJSC ended 2019 on AZN 769,000 in net profit, down 82.55% from the previous year.

Bank says the revenues amounted to AZN 19.173 million (down 36.2% from 2018), expenditures – to AZN 18.212 million (-26.1%), profit tax payments – to AZN 192,000 (-81%).

As of January 1, 2020, the assets made up AZN 58.245 million, down 4.1% from a year earlier. The liabilities fell 11.9% to AZN 23.187 million.

Azsigorta has been in operation since 2006. The authorized capital is AZN 20.3 million. 

Other News

AzFina official urges lenders to focus on underserved small businesses 28 October, 2026 / 20:11
Azerbaijan's Central Bank plans AI governance guidance by year-end 28 October, 2026 / 19:35
AzeriCard's new scoring product to help lenders analyze payment behavior 28 October, 2026 / 18:31
Azerbaijan's financial sector lacks a single reliable data source, official says 28 October, 2026 / 18:15
Azerbaijani banks' net foreign assets rise 22.6% year-on-year 28 October, 2026 / 16:56
Online lending raises new issues related to personal data protection, expert says 28 October, 2026 / 16:42
Azerbaijani manat's nominal and real effective exchange rates grow 28 October, 2026 / 16:31
Azerbaijan's Chamber of Accounts and 4SIM sign cooperation protocol 28 October, 2026 / 16:29
AKTA chief highlights cybersecurity weaknesses in microfinance sector 28 October, 2026 / 16:17
PASHA Capital CEO: Bond guarantees could attract more investors 28 October, 2026 / 16:02
Abas Miskarli: Azerbaijani insurers may allocate just 2–3% of portfolios to risky assets 28 October, 2026 / 15:58
Limited investment options constrain Azerbaijani insurers, ASA chief says 28 October, 2026 / 15:43
Expert calls for legal and tax reforms to develop Islamic finance in Azerbaijan 28 October, 2026 / 15:32
Expert: New microcredit market could be created in Azerbaijan 28 October, 2026 / 15:12
AIA: Liquidity requirements influence investment decisions 28 October, 2026 / 14:19
Azerbaijan to hold new SDG dialogues in Shusha and Nakhchivan next year 28 October, 2026 / 13:29
State bonds account for 31% of Azerbaijan's external debt 28 October, 2026 / 12:59
EBRD to launch Green Energy Efficiency Framework with Azerbaijan 28 October, 2026 / 12:37
Azerbaijan's external state debt amounts to $4.5B 28 October, 2026 / 12:29
Azerbaijan's domestic public debt falls nearly 5% 28 October, 2026 / 12:25