BAKU/21.01.14/TURAN : OJSC DemirBank by the results of last year had a net profit after tax of 5 million manat, which is 99.8 % more than in 2012. The bank's earnings equaled 62.32 million manat and its expenditures were 57.31 million manat, increasing by 21.4 % , respectively , and 17.4%.
The bank's assets during 2014 increased by 5.7 %, amounting to 405.19 million manat. The loans issued to individuals and legal entities grew by 11.4% to 304.74 million manat.
The total liabilities of the bank increased from 336.79 million to 354.67 million manat. The deposit portfolio increased by 14% , amounting to 190.99 million manat, including term client investments increased by 19.4 % to 158.13 million manat.
The equity capital increased by 8.9% reaching 50.53 million manat, and the total capital - 6.2 % to 59.36 million manat. The paid charter capital remained at 21 million manat. -15B -
Economics
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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A delegation led by Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with key Italian officials during an official visit to Italy, highlighting the strong and multifaceted partnership between the two countries.
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The Cabinet of Ministers of the Republic of Azerbaijan approved amendments on July 17 to the list of goods, services, and tariffs regulated by the state, as well as adjustments to import and export customs duties. These changes, guided by Article 119, paragraph 8 of the Constitution of Azerbaijan, aim to streamline economic activities and improve the regulatory framework.
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Rashad Huseynov has been appointed as the new director of the Center for Agricultural Research under the Ministry of Agriculture, replacing Firdousi Fikretzade who led the center since 2019. Fikretzade stepped down from his position on June 10 at his own request.
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