In 2016, the assets of Bank of Baku amounted to AZN 549 million 609 thousand, down compared with 2015 by 25.2%, or 185 million 239 thousand manat.
The bank's liabilities during the reporting period decreased by 26.1% or 168 million 760 thousand manat, reaching 476 million 741 thousand manat.
Deposits in the bank fell to 284 million 042 thousand manat (- 145 million 918 thousand manat or 33.93%).
The debt of Bank of Baku to the Central Bank increased from 40 million manat in 2015 to AZN 60 million in 2016.
The bank's capital was reduced by 16 million 480 thousand manat or 18.4%, amounting to 72 million 867 thousand manat in 2016.
Bank of Baku completed the year 2016 with a loss of 15 million 330 thousand manat. -----71D
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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