Assets of AG Bank in 2016 grew by 21 million 907 thousand manat or 4.39% compared to 2015, amounting to 520 million 3 thousand manat. For the specified time, liabilities of the bank increased by 19 million 986 thousand manat, or 4.47%, to 466 million 199 thousand manat.
Deposits in the bank during this period decreased by 25.78% or AZN 75 million 126 thousand, reaching 216 million 275 thousand manat.
Call deposits of individuals make up AZN 33 million 825 thousand, and those of legal entities make up 54 million 171 thousand manat.
Timed deposits of individuals amount to 124 million 637 thousand, and those of legal entities make up 3 million 641 thousand manat.
The debt of AG Bank to the Central Bank for this time increased from AZN 6 million to AZN 45 million.
The bank's capital grew by 3.7%, or 1 million 921 thousand manat in the reported period and is 53 million 804 thousand manat.
The volume of overdue bank loans increased from 55 million 699 thousand manat in 2015 to 136 million 405 thousand manat in 2016.
The bank completed 2016 with a loss of 35 million 629 thousand manat. -----71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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