The International Bank of Azerbaijan's assets in the first half of 2016 rose to 14 billion 192 million 38 thousand manat (3.9%).
According to the report published on the official website of the bank, the liabilities of IBA increased by 5.2%, amounting to 13 billion 623 million 433 thousand manat.
The bank's capital decreased by 20.3% to 568 million 947 thousand manat.
Loss of the bank for the period amounted to 344 million 158 thousand manat.
According to the report, IBA became an entire owner of the Baku football club Inter, whereas previously the bank's share in the club’s capital was 20%.
IBA transferred problem loans to CJSC Agrarkredit – AZN 9 billion 930 million. -----71D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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