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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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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