Deposits in Demir Bank increased last year by more than a quarter
Assets of Demir Bank increased last year by 7.1% to 383.15 million manat. The volume of loans grew 8.8% to 273.51 million manat.
The total liabilities of the bank increased from 312.78 million to 336.79 million manat. The deposit portfolio increased by 12.8% to 167.47 million manat, including term client investments that increased by 26.7% to 132.43 million manat.
The balance capital grew by 3.6% to 46.37 million manat, and the total capital - 12% to 55.92 million manat. The paid charter capital remained at the level of 21 mln AZN.
The bank's earnings were equal to 51.29 million manat and the expenditures were AZN 48.78 million, an increase compared to 2011, respectively, 13.5% and 13.4%. The net profit after tax increased 14.6% to 2.51 million manat. - 15B -
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