Bank Nikoil grew last year by 16.4%
Assets of Bank Nikoil increased in 2012 by 16.4% to 209.07 million manat. The volume of issued and corporations loans grew by 7.6% and amounted to 162.09 million manat.
The total liabilities of the bank increased from 146.29 million to 173.67 million manat. Deposit portfolio increased by 5.1% to 114.78 million manat, including term client investments increased by 10.3% to 101.84 million manat.
Balance capital reached 35.4 million manat. Total and authorized capital amounted to 31.03 million and 22.5 million manat.
Bank's earnings were equal to 37.11 million manat, increasing compared to 2011 by 12.3% and expenditures - 15.6% to 34.86 million manat. Net profit after tax amounted to 2.25 million manat. - 15B -
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review