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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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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