Assets of JSC Bank Silk Way fell in January-June 2013 by 5.4%, to 178.04 million manat. The volume of issued and corporate loans increased by 140% and amounted to 110.07 million manat.
The total liabilities of the bank decreased from 112.09 million to 75.32 million manat. The deposit portfolio decreased by 54.6% to 45.4 million manats, including term client investment that decreased by 5.8% to 19.89 million manat.
The balance sheet assets reached 102.72 million manat. The total capital grew by 34.3%, exceeding 101.72 million manat, and the paid charter capital - by 33.5% to 93.73 million manat.
The bank's earnings were equal to 8.19 million manat and the expenditures were AZN 4.8 million, an increase compared to the same period in 2012, respectively, 16.5% and 14.3%. The net profit after tax decreased 44.3% to 1.71 million manat. -15B -
Economics
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Azerbaijan's agricultural sector reported a modest growth of 0.8% year-on-year from January to September 2024, reaching a total production value of 10.4185 billion manats, according to the State Statistics Committee (SSC).
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On October 29, Azerbaijan’s Cabinet of Ministers approved a decision to allocate 229 hectares of state-owned land in the Jabrayil district, part of the East Zangezur economic region, for the development of a solar power plant with an initial capacity of 50 megawatts, potentially reaching 100 megawatts. This project is part of Azerbaijan’s strategy to increase energy capacity as outlined in the 2021 Law on the Use of Renewable Energy Sources in Electricity Generation.
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On October 29, Azerbaijan’s President Ilham Aliyev has signed a decree introducing several amendments aimed at refining the centralized electronic information system and state social insurance administration, the President's office announced on Tuesday. The decree, which builds upon legislative frameworks set in 2019 and further modified in 2021, seeks to enhance coordination among governmental bodies involved in social protection and compulsory state insurance.
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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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