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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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