Kapital Bank, former name United Universal Joint-Stock Bank, was formed as a result of the merger of three major governmental banks in Azerbaijan, i.e. Agro-Investment Bank, Industrial-Investment Bank and Savings Bank in 2000. It was renamed to Kapital Bank in January, 2005. Being a successor of Savings Bank, it dates his history back to 1874 when the first branch of Saving Bank was opened in Baku.
The shareholders of the bank are "Pasha Holding" - 97.5% and Bank's staff - 2.5%. The Shareholders' Equity makes 24 mln AZN.
Being the universal in nature, Kapital Bank provides a wide range of banking services both for corporate clients and individuals. It has the widest network of branches throughout Azerbaijan, which gives it a competitive advantage when serving the customers which are doing business in Baku and the regions. Its well-developed banking infrastructure in the regions makes it possible to even better serve its customer needs even in the remote places of Azerbaijan. Kapital Bank renders services and provides financing to main industries of the economy, i.e. chemical and gas industries, agriculture, transportation, communications, and construction. It is a bank of social importance – the agent-bank of the State in implementing major governmental and social programs.
Kapital Bank is viewed as highly trustworthy in the international arena. The Bank cooperates with such leading international financial institutions as Citibank N.A, American Express Bank, Commerzbank AG, HSBC Bank, KBC Bank, World Savings Banks Institutå, etc. It holds the primary membership and the full package from MasterCard International and VISA International.
The official auditor of the Kapital Bank is BDO Invest (Riga). In June of 2009 the bank was assigned with international ratings by Fitch Ratings. New rating are as follows: from Fitch Ratings - Long-term Issuer default and Support Rating Floor "B+"; Support rating "4"; Individual rating "D/E"; Stable Outlook. From Moody's International - "B1" long-term foreign currency deposit ratings, "B1" long-term and "NP" short-term local currency deposit ratings and an "E+" financial strength rating (FSR). All ratings carry stable outlooks.
Bank has been demonstrating unprecedented growth. One of the key success factors that enabled such a progress is the implementation of the corporate governance principles in the bank that provide for transparency, observance of the interests of all stakeholders and effective decision-making process. The Bank’s customer base is also steadily growing: number of customers consists of 19000 legal entities and more than 2 million individuals.
Mr. Elmar Mammadov was appointed Management Board’s chairman by the decision of the Supervisory Board of the Bank on 5 June 2009. Kapital Bank participates in the social programs indicated by the government as very important, creating new jobs in the regions of Azerbaijan.
