The total assets of Azerbaijani banks increased in September 485.1 million or 3.1% to 15,513.85 million ($ 19.75 billion). Since the beginning of the banking assets grew by 15% and for the year by 2,431.3 million or 18%.
According to the Central Bank of Azerbaijan, on October 1, 2012 the amount of cash in banks totaled 655.7 million manat, funds in correspondent accounts amounted to 1069 million manat, lending financial sector - 769 million manat, credit customers - 10130.4 million AZN investments - 1256.7 million manats, other assets - up to 2118.1 million manat.
The banks increased in the reporting period to 469.1 million or 3.6% to 13,658.35 mln. Of these, 7058.3 million manat provided deposits 4755.8 million manat - with financial sector and 1844.2 million manat - other liabilities.
The total capital of banks decreased over the year by 4.4 million or 0.2%, and in September rose by AZN 16 million, or 0.7 percent to 2324.6 million ($ 2.98 billion). - 15B -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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