Assets of AtaBank OJSC increased in January-March 2013 by 3.5%, reaching 297.75 million manat. The volume of issued and corporations loans grew by 5.7% and amounted to 199.19 million manat.
The total liabilities of the bank increased from 248.83 million to 257.99 million manat. The deposit portfolio increased by 3.6%, amounting to 252.34 million manat, including term client investments increased by 10.2% to 208.86 million manat.
The balance capital grew by 2.8% to 39.76 million manat, and the total capital - by 3.2% higher than 35.31 million manat. Paid charter capital remained unchanged at 27.99 million manat.
The bank's earnings were equal to 9.19 million manat and expenditures - AZN 8.16 million, an increase compared to the same period in 2012 by 26% and 34.4%. Net profit after tax amounted to 1.03 million manat. -15B-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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