Debt of Access Bank to Central Bank Rises to 30 Million AZN
Assets of Access Bank in 2016 compared to 2015 decreased by 11% or 129 million 926 thousand manat, amounting to 1 billion 58 million 871 thousand manat.
The bank's liabilities during the reporting period decreased by 2.3% or 24 million 146 thousand manat and reached 1 billion 6 million 411 thousand manat.
At the same time, the volume of bank deposits increased by 1.8%, or 5 million 34 thousand manat and reached 284 million 846 thousand manat.
The debt of Access Bank to the Central Bank increased from 20 million to 30 million AZN.
The bank's capital for the specified time decreased from 158 million 240 thousand to 52 million 640 thousand manat. ---71D
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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