BAKU/21.01.14/TURAN : Assets of AGBank increased in 2013 by 34.9 %, reaching 467.41 million manat. Volume issued to individuals and legal entities grew by 41.1 % and amounted to 352.7 million manat.
The total liabilities of the bank increased from 299.53 million to 415.81 million manat. Deposit portfolio increased by 24 % to $ 272.97 million manats , including term client investments increased by 22.7 % to 191.49 million manat.
Equity capital increased by 10% amounting to 51.6 million manat, and the total capital - by 17.6 % to 50.07 million manat. Paid charter capital remained unchanged amounting to 25 million manats .
The bank's earnings equaled 59.35 million manat and expenditures - 53.03 million manat , an increase compared with 2012 , respectively 24.5% and 25.3 %. Net profit after tax decreased by 17.5% to 2.5 million manat. - 15B -
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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