Assets of Azer-Turk Banki increased during the first nine months of 2013 by 13.4 %, reaching 96.75 million manat. The volume issued to individuals and legal entities grew by 26.6 % to 69.35 million manat, while NPLs increased by 53.6 % , and their share in the total loan portfolio increased by 1.30 percentage points, reaching 7.39 %.
The total liabilities of the bank increased from 70.65 million to 80.55 million manat. The deposit portfolio increased by 98.6 % and amounted to 51.05 million manat. Of these, 26.48 million manat fell on term deposits.
The equity capital increased to 16.19 million manat, and the aggregate capital - to 15.21 million manat. The paid charter capital remained unchanged and totaled 12.24 million manat.
The income and expenses of the bank equaled 8.78 million manat and 7.44 million manat, respectively. The net profit after tax amounted to 1.34 million manat. - 15B -
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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