Assets of Deka Bank increased in January-September 2012 by 30.2% to 62.06 million manat. The volume of issued and corporate loans grew by 25% and amounted to 47.68 million manat.
The total liabilities of the bank increased from 26.73 million to 42.03 million manat. The deposit portfolio increased by 2.3 times and amounted to 16.86 million manat, including term client investments that increased 2.5 times to 14.14 million manat.
The balance capital fell by 4.2% to 20.03 mln and the total capital - 6.3% to 16.28 million manat. The paid authorized capital remained at 13.42 million manat.
The bank's earnings were equal to 5.06 million manat, which decreased compared to the same period in 2011 by 10.5%, while the expenses increased by 6.5% to 2.77 million manat. The net profit after tax decreased 26.8% to 2.29 million manat. - 15B -
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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