. In August, the loss Demir Bank amounted to 260,000 manats, the bank said in its monthly report.
The bank completed the previous month with a net profit of 21,000 manats.
Since the beginning of the year the losses of Demir Bank have amounted to 3 million 675 thousand manats.
The bank’s total assets as compared to July increased by 2% (9,058,560 manats) in August and totaled 446,990,470 manats.
On the same index in foreign currency an increase of 1.5% (3,546,500 AZN) to 234,277,470 manats was recorded.
In August, the bank’s general liabilities increased by 2.49% (9,889,600 AZN), as compared to the previous month, and amounted to 39,637,970 manat. The liabilities in foreign currency increased 1.2% (3,099,072 AZN), reaching 257,505,240 manats.
The bank’s aggregate capital declined by 1.64% in August (- 831,000), amounting to 50,619,510 manats. ----72D
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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