AFB Bank in the first half of the year lost nearly a third of term deposits
Assets of AFB Bank fell in January-June 2013 by 3.8%, to 222.64 million manat. Lending to individuals and legal entities increased by 15.7% and amounted to 156.53 million manat.
The total liabilities of the bank declined from 183.68 million to 171.19 million manat. Deposit portfolio decreased by 17% to 70.24 million manat, including term client investments decreased by 31% to 5.06 million manat.
Balance sheet assets amounted to 51.44 million manat, and the total capital - 49.37 million manat. Paid charter capital remained unchanged at 42.34 million manat.
The bank's earnings were equal to 8.75 million manat, and expenses were 5.49 million manat. Net profit after tax amounted to 3.26 million manat. - 15B -
Economics
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Silk production in Azerbaijan decreased by 32.9% year-on-year in the first eight months of 2024, reaching 239.4 tons, according to data released by the State Statistics Committee. The decline was attributed to a reduction in the number of silkworm seeds distributed to farmers, reflecting a longer-term trend in the sector's contraction, noted agricultural expert Vahid Maharramov.
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