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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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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