During a year the assets of the International Bank of Azerbaijan (IBA) increased by 24.8% and by July 1, 2013 totaled 6.42 billion AZN, reported IBA press office.
The IBA credit portfolio increased by 31.2% against the same period in 2012 and totaled 4,473 billion AZN by July 1, 2013. The credit allotted to the physical persons totaled 518.8 million AZN.
During 6 months, 2013 deposits of population in the bank totaled 1,482 billion AZN, up 40.7% against July 1, 2012.
The bank’s aggregate capital totaled 765.56 million AZN, up 61.4% against July 1, 2012. During a year IBA authorized capital was increased up to 340 million AZN.
During 6 months, 2013 IBA net profit totaled 24.3 million AZN, up 44.6% against the same period during 6 months, 2012.
By the end of 6 months, 2013 ratio of assets profitability (ROA) constituted 0,39%, ROE (profitability of own capital) – 4.31% against 0.34% and 3.90% by July 1, 2012, respectively.—0—
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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Countries in Europe and Central Asia must not only attract investment but also actively adapt and disseminate technology to ensure sustainable economic growth, according to Ivailo Izvorski, Chief Economist for the region at the World Bank. Speaking at the presentation of the World Development Report 2024, Izvorski highlighted structural issues that are slowing down private sector development.
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Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.
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