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Kapital Bank: Target reserves for possible losses increased

17.01.2020,17:07


January 17, Fineko/abc.az. Kapital Bank's target reserves for possible losses grew up to AZN 319.869 million in 2019 (rise: AZN 110.365 million or 52.6%).

ABC.AZ reports with reference to Bank's annual report that this reserve is a special fund created to compensate for losses on non-standard assets of the Bank. Non-standard assets are "unsatisfactory", "dangerous", and "hopeless" assets.

It should be noted that KB offers consumer loans with annual interest rate starting from 19% for up to 48 months and with the amount of up to AZN 20,000. According to the requirements, persons with official income, aged from 18 to 70 years and with at least 3-month experience in the last job place can apply for a loan to the bank. There are no such requirements for pensioners.