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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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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