Assets of Pasha Bank Increased by 46.9%
Assets of Pasha Bank in 2016 compared to 2015 increased by 46.9%, or 1 billion to 2 million 610 thousand manat, amounting to 3 billion 138 million 773 thousand manat.
The bank's liabilities growth over a specified time amounted to 960 million 283 thousand manat or 54% and reached 2 billion 736 million 408 thousand manat.
The capital of Pasha Bank for the reported period amounted to AZN 402 million 364 thousand - increase of 42 million 326 thousand manat or 11.7%.
In 2016, the bank showed a profit of 48 million 299 thousand manat.
The bank's authorized capital is 333 million manat. ---71D
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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