Assets of AGBank increased in 2012 by 10.2% to 346.49 million manat. The volume of loans grew by 30.8% to 249.99 million manat.
The total liabilities of the bank increased from 276.55 million to 299.53 million manat. The deposit portfolio increased 18.6% to 220.28 million manat, including term deposits that increased 20% to 156 million manat.
The balance capital reached 46.97 million manat. The aggregate capital increased 19.7% over 42.56 million manat, and the paid charter capital - 25% to 25 million manat.
The bank's earnings were equal to 47.68 million manat, increasing compared to 2011 by 9.9%, while expenses decreased by 3% to 42.33 million manat. The net profit after tax amounted to 3.03 million manat. - 15B -
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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