The assets of JSC Khalg Bank declined last year to 1 billion 268,030,000 manat (minus 1.1%), which affected the amount of total liabilities - 1 billion 46 million 327 thousand manat (minus 1.8%).
According to the financial statements of this bank, the loan portfolio for the year increased by 6.1% to 1 billion 57.6 million manat, and the deposit portfolio decreased by 8.3% to 778 million 609 thousand manat, where deposits from the public are estimated at 639 million 26 thousand manat (+ 6.7%). That is, corporate participants leave the game.
The bank's capital by the beginning of this year amounted to 221 million 700.52 thousand manat (+2.2%) at the authorized capital of 197 million 125.29 thousand manat (+ 7.3%).
The net profit for last year was 15 million 490.06 thousand manat.
Xalg Bank received its banking license on December 30, 2004. Its shareholders are three entities: LLC Euro Standard, LLC Ideal Business and LLC Avant-garde. --17D-
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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Countries in Europe and Central Asia must not only attract investment but also actively adapt and disseminate technology to ensure sustainable economic growth, according to Ivailo Izvorski, Chief Economist for the region at the World Bank. Speaking at the presentation of the World Development Report 2024, Izvorski highlighted structural issues that are slowing down private sector development.
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Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.
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