Assets of Ata Bank decreased by 125 million 727 thousand manat or 21% in 2016 compared to 2015, to 472 million 541 thousand manat.
According to Turan, for the specified time the bank liabilities decreased by 130 million 520 thousand manat, or 24%, to 412 million 730 thousand manat.
The volume of bank deposits is 269 million 591 thousand manats, including call deposits of individuals that make up 24 million 662 thousand manat and those of legal entities - 40 million 536 thousand manat.
Timed deposits of individuals are 203 million 142 thousand manat, and those of legal entities are 1 million 250 thousand manat.
Ata Bank’s debt to the Central Bank of Azerbaijan is 10 million manat.
The bank's capital for the reporting period increased by 4 million 794 thousand manat, or 8.71%, to 59 million 811 thousand manat.
In 2016, the bank had a profit of 340 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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