The assets of JSC Azerbaijan Credit Bank by January 1 of this year amounted to 21 million 698.46 thousand manat (+ 10.9% versus the same period last year).
As stated in the financial statement supported by the auditor's report, the loan portfolio is 16 million 426.77 thousand manat (minus 11.2%), with the commitment at the level of 16 million 609.16 thousand manat (+ 7.2%).
The bank's capital is equal to 5 million 89.3 thousand manat (+ 25.1%) and the share capital is the same - 11 million 429.376 thousand manat.
The net profit for the last year amounted to 1 million 21.29 thousand manat.
JSC Azerbaijan Credit Bank received a license to operate in December 2005. Its shareholders are 3 natural persons with the following shares: 36.64%, 35.56% and 27.8%, respectively. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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