Assets of Demir Bank increased in January-November 2013 by 2 %, to 390.96 million manat. Volume of the loans issued to individuals and legal entities grew by 11.4% and amounted to 304.81 million manat.
The total liabilities of the bank increased from 336.79 million to 339.72 million manat. Deposit portfolio increased by 7.1 %, amounting to 179.34 million manat, including term client investments increased by 16.5 % to 154.31 million manat.
Equity capital increased by 10.5%, reaching 51.25 million manat and paid charter capital remained at 20.98 million manat.
The bank's earnings equaled 55.99 million manat and expenditures - 50.26 million manat. Net profit after tax amounted to 5.73 million manat. - 15B -
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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