In the first 11 months of 2016 Bank Avrasiya showed a profit of 5 million 319 thousand manat.
During the reporting period the bank's assets increased by 18 million 663 thousand manat (15.6%), amounting to 138 million 34 thousand manat.
The bank’s liabilities in January-November 2016 reached 81 million 160 thousand manat (an increase of 14 million 518 thousand manat or 21.7%).
Deposits from the customers for the specified time increased by 10 million 249 thousand manat (36%) to 38 million 688 thousand manat.
The bank’s capital amounted to 56 million 874 thousand manat with growth of 4 million 146 thousand manat or 7.8%. --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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