
Financial Report from NBC Bank
The assets of JSC NBC Bank by January 1 amounted to 138 million 106 thousand manat (+ 17.8%).
According to official information from the bank, its loan portfolio was at the level of 118 million 435 thousand (+ 24.3%) at the deposits of 58 million 39 thousand manat (+ 10.9%).
The bank's liabilities are equal to 87,090,000 manat (+ 13%). The equity capital as of 1 January was 51 million 15 thousand manat (+ 27%), and about the same (+ 27.4%) increased the authorized capital - up to 46 million 536 thousand manat.
The net profit at the end of activities in 2014 amounted to 1 million 460 thousand manat.
NBC Bank was established in December 1992 and now is part of the group of companies Nurgun Holding. --17D-
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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