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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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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