Aggregate capital of ParaBank grew more than a third in 2012
JSC ParaBank grew in assets over the last year by 4.6% to 109.6 million manat. Lending to individuals and businesses increased 2.6% to 76.02 million manat.
The total liabilities of the bank decreased from 91.77 million to 90.11 million manat. Deposit portfolio decreased by 1.1% to 63.59 million manat, including term deposits decreased by 0.9% to 59.59 million manat.
Balance capital grew by 49.9% to 19.49 million manat, and the total capital - by 34.1% to 16.86 million manat. Paid authorized capital remained at 11.57 million manat.
The Bank's earnings were equal to 19.44 million manat, increasing compared to 2011 by 1.6%, while expenses decreased by 9.8% to 17.5 million manat. Net profit after tax amounted to 1.94 million manat. - 15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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