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
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review