JSC Credo Bank in the first three quarters of 2012 net profit after tax of $ 464 thousand manat, which is 57.3% more than the figure recorded a year earlier. Bank's earnings were equal to 7.38 million manat, and costs - 6.79 million manat, increasing by 19.4% and 17.2%.
Assets increased in January-September, up 8.6% to $ 98.15 bn. The volume of loans fell by 6.6% to 73.62 million manat.
The total liabilities of the bank increased from 60.03 million to 68.84 million manat. Deposit portfolio increased by 20.3% to 16.6 million manats, including term client investments increased by 41.8% to 13.99 million manat.
Balance capital increased by 2.2% reaching 25.03 million manat, total capital increased by 1.6% to 22.99 million manat. Paid authorized capital remained unchanged reaching 20.54 million 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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