Assets of Muganbank reached 277,527.77 thousand manats. Compared to October of this year, this was 3.15% more. Overall capital totaled AZN 38,241.53 thsd.
As reported in the bank, deposits of the population reached AZN 80,101.57 thsd. Compared with the figure for October, the credit portfolio increased by 3.37% to 211,562.63 thousand manats.
Revenues for the relevant period after tax increased. Thus, interest income amounted to AZN 24,850.96 thsd, and non-interest income also reached AZN 11,485.23 thsd.
Liquidity ratio of Muganbank for the relevant period was 55.30%. -15D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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