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 state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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