Assets of JSC Bank VTB (Azerbaycan) increased in January -September 2013 by 93.4 %, reaching 166.39 million manat. The volume of issued and corporations loans has doubled and amounted to 146.65 million manat.
The total liabilities of the bank increased from 73.09 million to 137.13 million manat. The deposit portfolio increased by 3.1 times, amounting to 17.48 million manat, including term client investments increased 2-fold to 4.38 million manat.
Balance sheet assets reached 29.26 million manat. The total capital increased by 100 % higher than the 31.39 million manat, and paid charter capital - by 58 % to 37.59 million manat.
The bank's earnings were equal to 14.16 million manat and expenditures - AZN 13.11 million, an increase compared to the same period in 2012 respectively by 73.2 % and 18 %. Net profit after tax amounted to 1.05 million manat. At the end of three quarters of 2012 the bank posted a loss of 2.88 million manat. - 15B -
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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