Assets of Expressbank fell in January-March 2013 by 6.1%, to 235.57 million manat. The volume of loans increased 14.2% to 118.99 million manat.
The total liabilities of the bank decreased from 148.89 million to 131.09 million manat. Deposit portfolio decreased by 25%, amounting to 102.19 million manat, while time deposits increased by 10% to 31.21 million manat.
The balance capital grew by 2.7%, reaching 104.48 million manat, and the total capital - by 2.4% higher than the 102.11 million manat. Paid charter capital remained unchanged at 87.41 million manat.
The bank's earnings were equal to 7.38 million manat, and expenses - 5.13 million manat. Net profit after tax amounted to 2.25 million manat. - 15B -
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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