The Bank Respublika assets for the first three quarters of 2016 grew by 2.1% compared with the beginning of the year (18 million 960 thousand manat), amounting to 912 million 521 thousand manat.
The bank's liabilities during the reporting period increased by 34 million 209 thousand manat (4%) and account for 872 million147 thousand manat.
In the specified time the bank attracted 253 million 606 thousand manat from financial institutions, which is 15.7% (34 million 536 thousand manat) more than at the beginning of the year.
The bank's capital reduced for 9 months of this year by 27.4% (AZN 15 million 249 thousand) and was 40 million 374 thousand manat for the period reported.
Deposits of legal entities in the bank for three quarters increased by 35 million 236 thousand manat (12,1%) and account for 324 million 877 thousand manat, while the deposits of individuals within the specified time decreased by 39 million 215 thousand manat (14%) and account for 228 million 695 thousand manat. -----71D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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