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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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