By January 1, the deposit portfolio of JSC Bank Avrasiya was at the level of 29 million 195.7 thousand manats (+ 82.1% YoY).
The bank's assets grew by 28.6% - up to AZN 123.3 million, with the loan portfolio at the level of AZN 79.97 million (+ 36.5%). The liabilities were 72 million 158.4 thousand manats (+ 62.3%).
Shareholders' equity at the end of the year was 51.16 million manat (minus 0.5%), and the share capital was 50 million 2.5 thousand AZN (+ 6.4%).
The bank worked with a net profit of 510.2 thousand manats.
JSC Bank Avrasiya began to work on November 28, 2007. Fuad Aslanov heads the Supervisory Board, while Rufat Kerimov heads the Board. --17D-
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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