Expressbank OJSC issued a statement on the results of last year - its assets on 1 January were at the level of AZN 321.8 million. The volume of the total loan portfolio was AZN 275.2 million (+ 16.6% YoY).
Deposit accounts were 123.7 million AZN and 79.6 million manat (+ 27.2%) of that was contributions of the population.
The total capital was 138,700,000 manats.
OJSC Expressbank was created in 1989. The customer service network consists of 18 branches, two thirds of which are located in Baku and Sumgayit.
The head of the Supervisory Board is Fakhraddin Baghirov and the Chairman of the Board is Emin Mammadov. Its shareholders are 4 legal entities, including the company ADOR (42% of the equity) and LLC Azenco Group (40%). --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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