Assets of AtraBank increased in January-June 2012 by 0.4% to 62.75 million manat. The volume of issued and corporate loans grew by 2.7% and amounted to 46.48 million manat.
The total liabilities of the bank decreased from 48.95 million to 48.79 million manat. Deposit portfolio increased by 12.4% to 21.53 million manat, including term client investments that increased by 22.3% to 17.98 million manat.
The balance capital grew by 2.9% to 13.96 bn and the total capital grew by 3.3% to 11.62 million manat. The paid authorized capital remained at 10.42 million manat.
The income and expenses of the bank were respectively 40.02 and 3.75 bn manat. The net profit after tax amounted to 263 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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