Net profit of Xalq Kapital investment company decreases

Investment Company Xalq Kapital CJSC completed 2022 with a net profit of 49,000 manats ($28,824), 57.4% less year-on-year, Report informs, citing the company's financial statements.

Last year, Xalq Kapital's pre-tax profit amounted to 59,000 manats ($34,706), 57.6% less year-on-year, and income tax payments were 9,000 manats ($5,294), 64% less year-on-year.

As of January 1, 2023, Xalq Kapital's assets amounted to 940,000 manats ($552,957), which is 2.2% more than a year earlier. During the reporting period, the liabilities of the investment company decreased by 53.6% to 26,000 manats ($15,294), while the balance sheet capital increased by 5.7% to 914,000 manats ($537,663).

Xalq Kapital was established in 2007. Its authorized capital is 420,000 ($247,065). The shareholder of the investment company is Xalq Bank OJSC (100%).