The assets of Bank VTB (Azerbaijan) in 2016 decreased by 30 million 196 thousand manat or 6.5% compared to 2015 and amounted to 435 million 563 thousand manat.
The bank's liabilities during the reporting period decreased by 11.8% or 53 million 558 thousand manat, reaching 399 million 431 thousand manat.
The volume of bank deposits is AZN 43 million 129 thousand and the debt to the Central Bank is 30 million manat.
Capital Bank VTB (Azerbaijan) for the specified time increased from 12 million 770 thousand to 36 million 131 thousand manat.
The bank completed 2016 with a loss of 2 million 624 thousand manat.
The bank's authorized capital is 50 million 815 thousand manat. 51% of the shares belong to the Russian side - Bank VTB, 48.99% - to the Azerbaijani side - Ata Holding and 0.01% - to an individual Ashraf Kamilov. ---71D
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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