Expressbank deposit portfolio increased last year by 83.4%
Assets of Expressbank increased in January-December 2012 by 45.5% to 250.74 million manat. The volume of loans grew by 28% and amounted to 104.1 million manat.
The total liabilities of the bank increased from 92.37 million to 148.89 million manat. Deposit portfolio increased by 83.4% to 136.11 million manat, including term client investments increased by 39.9% to 28.39 million manat.
Balance capital reached 101.84 million manat. Aggregate capital increased by 25.4% to 99.74 million manat, and paid charter capital - by 31% to 87.41 million manat.
The Bank's earnings were equal to 31.58 million manat and the expenditures were 21.12 million manat, increasing as compared to the corresponding period of 2011, respectively, 32.7% and 71.5%. Net profit after tax decreased 8.7% to 10.47 million manat. - 15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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