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    Baku Stock Exchange moves from loss into profit

    Stock market assets dropped by 5% in 2016© Report

    Baku. 20 July. REPORT.AZ/ Total assets of Baku Stock Exchange (BSE) totaled 3,21 mln AZN as of January 1, 2017.

    Report informs citing the stock market's financial report, this is 4,5% less compared to the January 1, 2016.

    79.4% of BSE assets are receivables from credit institutions.This figure dropped by 1.2% in 2016.

    Last year the total liabilities of Baku Stock Exchange decreased by 46% to 40,000 AZN and total capital decreased by 3.6 % up to 3,287 mln AZN.

    The BSE revenues in 2016 made $ 1.104 mln AZN (18,6% less than in 2015), and expenses - 1,221 mln AZN (5.7% less).Finally, the company's loss before tax made 117,000 AZN.

    Last year, the BSE paid 480 AZN (53.4 times less than in the previous year) income tax and ended up with a net loss of 116,000 AZN. Notably, BSE made 36,000 AZN net profits since 2015. In other words, the financial institution has lost profit.

    Notably, BFB was established in 1997. Its authorized stock capital is AZN 1.26 mln. BFB stakes are held by 20 legal entities. Among them are 5 local banks (Azer-Turk Bank, Azerbaijan Industry Bank (ASB), Kapital Bank, International Bank of Azerbaijan and under liquidation United Credit Bank), 14 local and international investment companies, even Istanbul Stock Exchange (Borsa Istanbul). Each of stakeholders, except ASB, holds 4.76% of shares of the company. ASB’s stake in BFB amounts to 9.52%. 

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