Assets of Accessbank increased in January-September 2012 by 19.3% to 466 million manat. The volume of issued and corporation loans grew by 23.5% and amounted to 364.77 million manat.
The total liabilities of the bank increased from 299.08 million to 360.06 million manat. Deposit portfolio increased by 9.4% to 132.61 million manat, including term client investments increased by 1.6% to 88.58 million manat.
Balance capital reached 105.94 million manat. Aggregate capital increased by 11.4% over 100.57 million manat, and paid charter capital - 25.4% to 85 million manat.
The bank's earnings were equal to 73.91 million manat and expenditures - 58.55 million manat, increasing as compared to the corresponding period of 2011, respectively, 13.4% and 14.6%. Net profit after tax increased 20.5% to 13.49 million manat. - 15B -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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