In the first half of 2016 the JSC "Bank Silk Way" had $429.000 manat losses. They can be attributed to technical losses, since they arose due to allocations to reserves for possible losses of assets. According to the bank's report, in the first half were created reserves for possible losses in the amount of 7.124.000 manats. Operating profit of the Bank Silk Way for the period amounted to about 6.7 million manat.
Over six months the bank's income only for foreign exchange trading amounted to 3.7 million manats.
For July 1 of this year, Bank Silk Way assets amount to 364.4 million manats. Of these, the share of loans to customers, amounts to 346,200,000 manats. Of this amount, 193.8 million manats granted in foreign currency.
The volume of bank deposits totals 148.2 million manat, of which 132.8 million manat were invested in foreign currency. In 2015, with revenue of 32.4 million AZN the OJSC "Bank Silk Way" got 1.5 million manat net profit. Shareholders of Bank owned capital in the amount of 106.6 million manats. --08D--
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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