The assets of Pasha Bank increased in January-October this year at 94.62 million or 16.6%, reaching 665.05 million manat. The volume of issued and corporate loans increased 67.63 million or 27.6% to 313.07 million manat.
The deposit portfolio for the period increased by 3.5% to 383.95 million manat, including term client investments that increased 30.12 million or 18.1% to 195.99 million manat.
The aggregate capital increased 34.84 million, or 24.4%, reaching 177.86 million manat, and the paid charter capital increased 33.53 million or 27.1% to 157 million manat.
The income and expenses of the bank were respectively 47.49 million and 35.95 million manat. The net income amounted to 11.54 million manat.
The total number of issued bank active cards increased for ten months in 2012 by 3,652 units or three-fold to 5,457 units. During the reported period, the bank mounted seven additional ATMs, including five in the reported month. Thus, the total number of the equipment reached 16 units. - 15B -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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