Assets of Ata Bank in the third quarter of 2016 compared to the beginning of the year decreased by 19.8% (118 million 820.074 thousand manat) and made up 479 million 448 thousand manat.
The bank's liabilities for the period decreased by 140,312,598 manat (25.8%), amounting to 402 million 938 thousand manat.
The bank's liabilities include deposits of 252 million 30 thousand manat. Demand deposits of individuals are 16 million 166 thousand, and those of legal entities are 41 million 946 thousand manat.
Term deposits of individuals amount to 192 million 397 thousand, and those of legal entities are 1 million 520 thousand manat.
The debt of Ata Bank to the Central Bank is 10 million manat.
The bank's capital for the reporting period rose to 76 million 510 thousand manat (growth - 39% - 21 million 493 thousand manat).
In the third quarter, the bank showed a profit of 15 million 61 thousand manat. ----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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