JSC Bank Silk Way in the first quarter of 2013 net profit after tax of 700 thousand manats, which is 33% less than the same period in 2012. The bank's earnings were equal to 3.57 million manat, and expenses - 2.25 million manat, increasing respectively by 28.6% and 53.3%.
Assets decreased in January-March, up 4.7% to 179.34 million manat. The volume of issued and corporations loans increased by 66.9% to 76.66 million manat.
The total liabilities of the bank decreased from 112.09 million to 102.21 million manat. Deposit portfolio decreased by 30.2% to 69.71 million manat, including term client investment decreased by 1.1% to 20.92 million manat.
The balance capital grew by 1.3% to 77.13 million manat, and the total capital - by 1.1% higher than the 76.46 million manat. Paid charter capital remained unchanged at 70.19 million manat. - 15B -
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review