Assets of JSC Bank Nikoil increased in the first quarter of this year by 1% to 211.02 million manat. The volume of issued and corporations loans grew by 0.1%, amounting to 162.24 million manat.
The total liabilities of the bank increased from 173.67 million to 176.39 million manat. The deposit portfolio increased by 5.1%, amounting to 120.68 million manat, including term deposits increased by 4.3% to 106.22 million manat.
Balance sheet assets amounted to 34.63 million manat. The total capital increased by 0.6% higher than 31.22 million manat, and paid charter capital remained unchanged at 22.5 million manat.
Revenues and expenses of the bank equaled 8.13 million, respectively, and 7.92 million manat. Net profit after tax amounted to 217 thousand manats. - 15B -
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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