Azerbaijan's National Depository Center Ends 2023 With Losses

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 29. The National Depository Center (NDC) of Azerbaijan finished 2023 with a loss of 69,000 manat ($40,590) against a net profit of 712,000 manat ($418,820) in 2022, Trend reports via the financial report of the NDC for last year.

According to the report, last year, the center's operating revenues grew by 10 percent, totaling 4.76 million manat ($2.8 million), compared to 4.32 million manat($2.54 million) in the previous year.

During the reporting period, the NDC's salary expenses remained unchanged at 2.03 million manat ($1.19 million), while social benefit expenses increased by 4.3 percent to 490,000 manat ($288,240), and depreciation expenses decreased by 25 percent, amounting to 415,000 manat ($244,120).

Furthermore, the center's expenses on professional services totaled 217,000 manat ($128,000), unused vacation expenses were 78,000 manat ($46,000), insurance expenses were 13,000 manat ($7,500), and additional administrative expenses amounted to 496,000 manat ($290,000).

Other income of the National Depository Center decreased threefold compared to 2022, dropping to 196,000 manat ($115,000), down from 549,000 manat ($322,000) in 2022. In addition, in 2023, the center incurred other expenses amounting to 1.55 million manat ($910,000).

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