Almost a third of the portfolio of the Baku branch of the National Bank of Pakistan is overdue loans
Assets of the Baku branch of the National Bank of Pakistan increased in 2012 by 0.3% to 10.89 million manat. Volume of loans to customers increased 10.5% to AZN 4.69 mln, with non-performing loans increased 83.5% to 1.41 million manat. The share of overdue loans in the total loan portfolio was 30%, whereas in 2011 this figure was at 18%.
The total liabilities of the bank decreased from 629,000 to 576,000 manat. Deposit portfolio decreased by 9.6% to 313,000 manat, with urgent client investments increased by 46.5% to 40,000 manat.
Balance capital grew by 0.9% to 10.31 million manat, and the total capital - by 0.4% to 10.23 million manat. Paid authorized capital remained at 9.42 million manat.
The Bank's earnings were equal to 786,000 manat, expenses - 715,000 manat, decreased in comparison with 2011, respectively 13.1% and 18.7%. Net profit after tax increased 73 times, amounting to 46,000 manat. - 15B -
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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