The assets of Amrah Bank in 2016 decreased by 47 million 878.952 thousand manat compared to 2015, or 15.7%, amounting to 256 million 223.844 thousand manat.
During this period the bank's liabilities decreased by 48 million 500 thousand 432 manat or 19.2% to 202 million 844 thousand 781 manat.
During the reporting period, deposits in the bank fell from 155 million 161 thousand 046 to 141 million 384 thousand 546 manat (8.87%).
In 2016, the capital of Amrah Bank in comparison with 2015 grew to 53 million 379 thousand 063 manat (an increase of 621 thousand 480 manat or 1.17%). -----71D
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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