The assets of Bank Respublika within 10 months of this year increased 26.23%, reaching 395 million manats. The liquid assets of the bank reached 103 million manat, or 26.3 percent of the total assets.
The bank's loan portfolio increased 57.9 million or 33.4% and amounted to 231 million manat.
The total amount of the money of the bank's customers for the period rose 32% to 213.1 million manat.
The bank's income totaled 39.5 million manat, including non-interest - 12.5 million manat. The net profit amounted to 10.8 million manat.
The aggregate capital of the bank at the end of October amounted to 62.3 million manat. -15D -
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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