The total loan portfolio of Azerbaijan Senaye Banki (ASB) amounted to 168 million 777.55 thousand manats last year (+0.9% to the end of 2014).
The share of investment in industry amounted to 42.2% or 71 million 168.15 thousand manats (+5.2% per year). Individuals were allocated 14 million 948.83 thousand mantas and agricultural industry representatives were allocated 18 million 415.08 thousand manats. Trade and services were invested 52 million 467.43 thousand manats and the construction sector was invested 7 million 539.38 thousand manats.
JSC Azerbaijan Senaye Bank» with a capital of 71 million 584.08 thousand manats was founded in 1996. The main shareholder is LLC Anadolu Investment Company with 94.2517% of the shares. OJSC Azerbaijan Senaye Sigorta has 5.1735%, and LLC Azerbaijan Senaye Leasing has 0.5748%. The authorized capital is 60 million AZN. --17D-
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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