The assets of Bank Avrasiya in 2016 grew by 20 million 103 thousand manat compared to 2015, or 16.3%, amounting to 143 million 417 thousand manat.
The bank's liabilities for the specified time increased by 18 million 682 thousand manat or 25.89% and reached 90 million 840 thousand manat.
The volume of deposits in the bank during this period increased by 31.93% (9 million 324 thousand manat) to 38 million 519 thousand manat.
The bank's capital for the reporting period rose to 52 million 576 thousand manat (an increase of 1 million 421 thousand manat or 2.7%).
The bank's loan portfolio at the end of 2016 amounted to 90 million 189 thousand manat (an increase of 8 million 411 thousand manat or 10.28%).
The bank completed 2016 with a profit of 920.9 thousand manat. ----71D
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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