The assets of the "Azer Turk Bank" in 2016 compared to 2015 decreased by 196. 870 manats, or 29.1%, amounting to 475.794.000 manats. According to Turan, over the year the bank granted loans amounting to 150.162.000 manats, which is by 63.27% less than the loans issued in 2015, or 258.698.000 manats. Consumer loans in 2016 were issued in the amount of 31.453.000 manats, while in 2015 it amounted to 30. 980.000 manats. The bank's liabilities during the reporting period decreased by 204.161.000 manats or 32.97%, to 414. 903.000 manats. The volume of deposits in "Azer Turk Bank" rose to 267. 976.000 manat (an increase of 25.017 manat or 10.29%.)
Population's deposits in the bank over for the year decreased by 23% or 40.760.000 manats, reaching 135.954.000 manats. The bank's capital in 2016 increased by 13.3% or 6.792.000 manats, and reached 57. 683.000 manats.
Over the year the number of bank branches increased from 7 to 11, the number of POS-terminals from 48 to 130, the number of ATMs from 12 to 16 and the number of employees from 313 to 382.
In 2016, customers' of Azer Turk Bank " have been issued 27. 960 plastic cards, and in 2015 – 16. 445 cards were issued in 2015.In 2016, the bank’s profit was 7.337.000 manats. The bank's authorized capital amounts to 50.000.000 AZN. 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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