Azerbaijani banks' total assets rose in August of this year at 225.4 million or 1.2% to 18,918.9 million manat. From the beginning, the bank assets increased by 14.4 %, while for the year - by 26%.
According to the Central Bank of Azerbaijan, on September 1, 2013 the amount of cash in banks amounted to 813.4 million manat, funds in correspondent accounts amounted to 987.7 million manat, lending financial sector - 721.2 million manat, customer lending - 13,187,000 AZN, investments - 1,519.9 mln manats, other assets - up to 1,689.7 million manat.
Liabilities of banks increased in the reporting month by 152 million or 0.9 % to 15,848.4 million manat. Of these, 8438.7 million manat was secured deposits, 6,180.3 million manat - with the financial sector and 1229.4 million manat - other liabilities.
The total capital of banks increased over the year by 745.9 million or 32.1 %, and in August - 73.5 million manat, or 2.5 percent to 3070.5 million manat. - 15B -
Economics
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Eel Electric LLC, a resident of the Agdam Industrial Park, has completed 85 percent of the construction of its power distribution equipment and power sockets plant, the Ministry of Economy announced on Monday.
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The State Tax Service (STS) of Azerbaijan has issued an urgent warning to citizens regarding a surge in fraudulent activities exploiting the name of the country's VAT refund project. According to the STS, cybercriminals have been creating counterfeit websites and online pages that closely mimic the official internet resources of the State Tax Service, luring unsuspecting citizens with promises of VAT refunds.
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On July 30, a meeting of the Working Group on "Inflation and Price Monitoring" was held under the chairmanship of the Head of the Cabinet of Ministers, Rufat Mammadov, to discuss price changes in Azerbaijan's consumer market and the government's anti-inflationary measures this year.
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Azerbaijan's foreign trade balance showed a positive surplus of $4 billion in the first half of 2024, according to data from the Central Bank of Azerbaijan (CBA) on the parameters of the interest rate corridor.
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