The local unit of the European Access Bank during the year increased assets by 30.9% - up to 1 billion 54 million 461 thousand manat.
According to the bank, its loan portfolio by 1 January amounted to 821 million 470 thousand manat (+ 31.3% YoY) while the deposits were at the level of 280 million 637 thousand manat, where the population's deposits were 256 million 64 thousand manat (+ 35.6%).
Liabilities, including short-term ones, by January 1 were 903 million 20 thousand manat. The capital of the bank by the end of last year's cycle was equal to 151 million 440.6 thousand manat (+ 19.8%) at the constant authorized capital of 85 million manat. The net profit of the financial structure during the year amounted to 40 million 435.8 thousand manat.
Access Bank has been operating in Azerbaijan since 2002, and its shareholders are the European Bank for Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, German KfW, Access Holding, and LFS Financial Systems GmbH. --17D-
Economics
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Azerbaijan's Small and Medium Business Development Agency (SME) and the Iraqi Federation of Chambers of Commerce have formalized a significant step towards enhancing bilateral economic ties with the establishment of the Azerbaijan-Iraq Business Council. The agreement, signed by Orkhan Mammadov, Chairman of the Board of Directors of SME, and Abdulrazag Al-Zuheir, President of the Iraqi Federation of Chambers of Commerce, comes within the framework of the Azerbaijan-Iraq Business Forum.
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Azerbaijan officially presented the updated digital government platform "myGov" at an event on September 17 in Baku, marking a significant step in the country's digital transformation. The event was attended by government officials, private sector leaders, media representatives, and industry experts.
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Minister of Economy Mikail Jabbarov held a meeting with the World Bank's Regional Director for Sustainable Development for Europe and Central Asia, Sameh Naquib Vahba, to review the ongoing and potential areas of collaboration between Azerbaijan and the World Bank. Both sides expressed their satisfaction with the progress made in joint projects aimed at boosting economic diversification and infrastructure development in Azerbaijan.
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Azerbaijan officially presented the updated MyGov digital government platform today in the capital city of Baku, marking a significant milestone in the nation’s ongoing digital transformation.
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