JSC Bank Respublika on the basis of last year had net profit after tax of 11.19 million manat, which is 14.3% more than the same period in 2012. The bank's earnings equaled 60.04 million manat and expenditures - 45.66 million manat, increasing by 23.5%, respectively, and 27.3%.
Total assets increased by 11.8 %, amounting to 481.53 million manat. The volume of loans issued to individuals and legal entities grew by 23.5 % and amounted to 289.93 million manat.
Deposit portfolio increased by 19.2 %, amounting to 308.96 million manat, including term client investments increased by 60.9 % to 143.48 million manat.
Overall capital rose by 7.1 % higher than 63.42 million manat and paid charter capital remained unchanged at 11.19 million manat. - 15B -
Economics
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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.
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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.
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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.
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"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.
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