Avrasiya Bank’s Assets Grew by 2.63% in July
The total assets of Avrasiya Bank on the results of July 2016 amounted to 130,365,300 manats, the bank’s monthly report said. Compared with June, the total assets grew by 2.63% (3,441,600 AZN).
The bank’s general obligations rose to 73,527,500 manats in July (an increase of 2.44% - 1 million 796 thousand manats).
The bank’s total capital compared to June rose by 2.89% (1,645,500 AZN), amounting to 56,837,700 manats.
The bank's authorized capital is 50 million AZN. -----74D
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- Politics
- 29 August 2016 13:55
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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