
Deka Bank financial summary of ten-month activity
BAKU/04.12.13/TURAN : Assets of Deka Bank increased in January-October 2013 by 10.2 %, reaching 65.35 million manat. Volume issued to individuals and legal entities grew by 1.2% and amounted to 51.85 million manat.
The total liabilities of the bank declined from 41.74 million to 33.18 million manat. Deposit portfolio decreased by 63.4 % to AZN 7.1 mln , including term client investments decreased by 58.6% to 6.45 million manat.
Equity capital reached 32.17 million manat. The total capital increased by 97.9 % higher than the 27.96 million manat and paid charter capital - by 78.4 % to 23.99 million manat.
The bank's income equaled 5.66 million manat, and expenses - 2.53 million manat. Net profit after tax amounted to 3.13 million manat. - 15B -
Economics
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The EBITDA (earnings before interest, taxes, depreciation, and amortization) of the State Oil Company of Azerbaijan (SOCAR) has been declining in recent years, as reflected in reports by international rating agencies and the company’s own financial statements. SOCAR’s financial report for 2024 is expected in the summer of 2025, but preliminary data from Fitch Ratings indicates a further decline in the figure.
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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