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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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