Assets of Credo Bank increased last year by 10.4% to 99.77 million manat. Lending to individuals and businesses decreased by 9.9% to 71.91 million manat.
The total liabilities of the bank increased from 60.03 million to 63.73 million manat. The deposit portfolio increased by 17.4% to 16.22 million manat, including term client investments that increased by 30% to 12.72 million manat.
The balance capital reached 31.97 million manat. The aggregate capital increased by 32.4% to over 29.84 million manat, and the paid charter capital - by 34.1% to 27.54 million manat.
The bank's earnings were equal to 10.37 million manat and the expenditures were AZN 10.06 million, an increase compared to 2011, respectively, 20.9% and 21.7%. The net profit after tax increased 11.7% to 309,000 manat. - 15B -
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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