For the first 3 months of 2016 loans of 20 million manat were granted by Capital Bank. The bank's loan portfolio as of April 1 of this year reached 1 billion 181.6 million manat.
Citizens and companies made deposits in the amount of 63 million manat. The deposit liabilities of the bank exceeded 1.1 billion manat. In addition, for three months, banks and other financial institutions increased deposits in Capital Bank by 223 million manat and brought the index to 613.6 million manat.
Since the beginning of the year the shareholders' equity of the bank increased by 18 million AZN and reached 290 million AZN, and the authorized capital reached 185 million AZN.
JSC Capital Bank is the largest bank in the country in the segment of clients and branch network. Pasha Holding Company owns 99.87% of its shares.
On May 27 a general meeting of shareholders will be held and it will distribute the profit for 2015. ----08D
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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