Capital Bank more than five times increased net profit
JSC Capital Bank in the first three quarters of 2012 made net profit before income taxes of 20.5 million manat, which is 5.1 times more than the figure recorded a year earlier. The bank's earnings were equal to 81 million manat and its expenditures were 60.5 million manat, increasing by 36% and 8.8%.
The assets increased during the year by 72.2% to 2.0628 billion manat. The volume of issued and corporate loans grew by 6.5% to 978.5 million manat.
The deposit portfolio increased compared to the same period last year by 88.6% to 460.1 million manat, including deposits of individuals that increased by 9.4% to 136.5 million manat.
The aggregate capital increased by 33.3% reaching 121.7 million manat, and the paid charter capital - by 25%, reaching 50 million manat. - 15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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