The assets of AFB Bank in the third quarter of 2016 compared to the beginning of the year decreased by 14 million 891 thousand manat (4.8%), amounting to 293 million 839 thousand manat.
The bank's liabilities for the period decreased by 10.5% (24 million 450 thousand manat) to 207 million 914 thousand manat.
Deposits in the bank for three quarters of the current year amounted to 99 million 406 thousand manat. In the structure of deposits demand deposits of legal entities amount to 77 million 543 thousand manat and time deposits of legal entities were 876 million 76 thousand manat.
Demand deposits of individuals amounted to 16 million 69 thousand manat, while time deposits of individuals were 4 million 916 thousand manat.
The bank's capital in the first nine months of 2016 increased by 12.5% (9 million 559 thousand manat) and made up 85 million 925 thousand manat.
Over three quarters AFB bank had 4 million 341 thousand manat of net profit. ------71D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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