. 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 commodity exports fell sharply in the first half of 2024, decreasing by 18.5% to $12.4 billion, according to data from the Central Bank. This marks a significant shift in the country's trade performance, primarily driven by changes in the oil and gas sector. Despite the overall decline in export figures, oil and gas exports remained strong, supported by favorable global market prices for crude oil and natural gas.
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Azerbaijan, a nation where post-Soviet welfare policies are often compared to those of its neighbors, finds itself at the center of a debate over the absence of state-provided child benefits. Unlike other former Soviet republics, Azerbaijan does not offer universal payments for children. This issue gained attention during the parliamentary elections in September 2024, as political candidates promised to push for the reintroduction of child benefits if elected to the Milli Majlis.
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Azerbaijan's foreign direct investment (FDI) portfolio for the first half of the year continued to be dominated by the oil and gas sector, which attracted 80.4% of the total FDI inflow of $3 billion, according to the Central Bank of Azerbaijan. This reflects a persistent trend of reliance on energy resources, as the country plays a critical role as a key energy producer in the region.
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A Baku seminar titled "Green Building Initiative in Azerbaijan," held on September 12, spotlighted the country’s increasing focus on sustainable construction. Organized by the State Committee for Urban Planning and Architecture, in collaboration with the International Finance Corporation (IFC), the event brought together key stakeholders from both the public and private sectors, reflecting a growing national commitment to environmentally conscious building practices.
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