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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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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