Assets of DemirBank increased in January- October of this year by 1.7 % to reach 389.74 million manat. Lending to individuals and businesses increased by 8.1 % to 295.66 million manat.
The total liabilities of the bank increased from 336.79 million to 339.94 million manat. The deposit portfolio increased by 5.8 %, amounting to 177.25 million manat, including term client investments increased by 13% to 149.69 million manat.
The balance capital grew by 7.3 % to 49.79 million manat, and the paid charter capital remained unchanged at 20.98 million manat.
The revenues and expenses of the bank equaled to 50.42 million manat and 46.11 million manat respectively. The net profit after tax amounted to 4.27 million manat. -15 -
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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