Deposits in Bank Respublika Increased by 13.7%
Assets of JSC Bank Respublika as of July 1 of this year amounted to 426.85 million manat. Lending to individuals and businesses in the first half of the year increased by 3% and was equal to 241.45 million manat.
Total liabilities of the bank decreased from 370.18 million to 369.72 million manat. Deposit portfolio for the period increased by 2.7%, reaching 266.16 million manat, including term client investments increased by 12.2 million or 13.7% amounting to 101.34 million manat.
The balance capital is fixed at 51.75 million manat. The total and authorized capital of the bank amounted to 54.34 million and 37.46 million manat.
Revenues were equal to 27.45 million manat and expenditures - AZN 21.34 million, an increase compared to the same period last year by 23.9% and 33.1%. During the first six months of 2013 the bank had a net profit after tax of 4.89 million manat. -15D -
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review