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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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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