The volume of deposits in OJSC AFB Bank by the end of the first quarter was at the level of 74 million 710.3 thousand manat, of which less than a third (22 million 943 thousand) were deposits of the population that is a sign of corporate financial structure.
The bank's assets amounted to 293 million 187 thousand manat (minus 0.3%) at the loan portfolio of 208 million 177 thousand manat (3.1%) and liabilities of 214 million 139 thousand manat (minus 2%).
The equity capital at the end of the first quarter was 79 million 47.3 thousand manat (3.1%) at the authorized capital of 70 million 393.46 thousand manat constant YTD.
By April 1, the bank came up with a net profit of 2 million 270 thousand manat.
JSC AFB Bank (initially acted as Azfinansbank) received a banking license on 28 November 2008. Its shareholders are a single legal entity (LLC Gilan – 99.2%) and two individuals. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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