The assets of Bank Silk Way for the third quarter of 2016 grew by 8.7% (31 million 508.85 thousand manat), compared to the beginning of the year, and amounted to AZN 393 million 507.78 thousand.
The share of foreign currency assets amounted to 223 million 659.19 thousand manat.
The bank's liabilities grew by 23.36% (60 million 402.4 thousand manat) during the reported period, reaching 280 million 461.85 thousand manat (220 million 059.45 thousand manat in foreign currency).
For the first nine months of this year the Bank Silk Way capital grew by 9 million 601.940 thousand manat (9.2%), amounting to 113 million 045.94 thousand manat.
The bank concluded the period with a profit of 5 million 669 thousand manat. ---71D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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