BAKU/25.10.13/TURAN : Assets of JSC Bank Silk Way grew in January-September 2013, up 14.2 %, reaching 214.94 million manat. The volume of issued and corporations loans increased by 3.4 times and amounted to 155.05 million manat.
The total liabilities of the bank declined from 112.1 million to 110.5 million manat. Deposit portfolio decreased by 43.2 % amounting to 56.73 million manat, including term client investments increased by 4.8 % to 20.11 million manat.
Balance sheet assets reached 104.41 million manat. The total capital grew by 36.3 % higher than the 103.21 million manat, and paid charter capital - by 33.5 % to 93.73 million manat.
The bank's earnings were equal to 13.11 million manat and expenditures - AZN 8.24 million , an increase compared to the same period in 2012 , respectively, 22.4% and 43.9 %. Net profit after tax decreased by 1.9 % to 3.12 million manat. - 15B -
Economics
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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.
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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.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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Azerbaijan’s state-owned electricity producer, Azerenergy, is advancing the construction of six hydroelectric power plants (HPPs) in the Kalbajar and Lachin districts as part of the country’s efforts to expand its renewable energy capacity. The plants, with a combined capacity of 37.5 megawatts (MW), are expected to be commissioned in the first half of 2025, according to the company.
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