The assets of JSC Deka Bank by 1 January amounted to 394 million 89 thousand manats (an increase of 4.3 times per year). The main achievements are associated with a fivefold increase in the total loan portfolio - up to 386.68 million manat.
The bank's liabilities increased almost 10 times - up to 336 million 942 thousand manats, with increasing (+ 529.6%) funds on deposit accounts - up to 8.7 million manat. In this portfolio the largest share of deposits belonged to the population - AZN 8.1 million (+ 72.3%).
The ownership capital of the bank by the end of the reported period was at the level of 57 million 146.74 thousand manats (+ 6%) at the still unchanged authorized capital of 52 million 767 thousand manats.
The past year was loss-making for the bank (minus 1 million 84.24 thousand manats).
JSC Deka Bank was founded in 1989. The bank's shareholders are individuals. The Head of the Supervisory Board is Suraya Agayeva and the Chairman of the Board is Niyazi Valiyev. --17D
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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