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
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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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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