Assets of Uni Bank in the third quarter of 2016 compared to the second quarter decreased by 7.2% (56 million 538 thousand manat), amounting to 727 million 674 thousand manat.
During the reporting period, the bank's liabilities decreased by 61 million 910 thousand manat (8.5%) and account for 658 million 561 thousand manat.
Growth of the capital of Uni Bank in the third quarter amounted to 5 million 372 thousand (8.4%), amounting to 69 million 113 thousand manat.
Uni Bank has been operating since 1992. The bank's authorized capital is 70 million 565.232 thousand manat. ----71D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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