Avrasiya Bank’s Capital Grew by 2.7%
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
-
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.
-
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.
-
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.
-
"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.
Leave a review