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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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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