Baki Insurance sees 27% rise in net profit

As of January 1, 2019, the assets of Baki Insurance OJSC amounted to AZN 10.554 million, down 1.6% from the previous year.

Report informs citing th company than the liabilities dropped by 28.5% to AZN 1.276 million, the total capital rose by 3.7% to AZN 9.278 million, incomes slipped 15.65% to AZN 2.109 million, expenditures dropped by 22.15% to AZN 1.691 million, payments on profit tax ascended by 27.4% to AZN 84,000. Consequently, the OJSC ended 2018 on AZN 334,000 in net profit, up 27.4% over 2017.

Baki Insurance was established in 1994 as Tural Insurance and was rebranded in 2007. The authorized capital makes up AZN 8,925,440 and the main shareholder is Bank Respublika.