The deposit portfolio of Gunay Bank increased in January-September this year, up 30.9% to 12.26 million manat, including term client investments increased by 19% to 9 44 million manat.
The bank's assets during the first three quarters of 2012 increased to 37.76 million manat. Lending to individuals and businesses increased by 30.7% and was equal to 35.03 million manat.
Balance capital grew by 2.8% to 14.83 million manat. The aggregate capital was 11.41 million manat and the paid charter capital remained at 13.02 million manat.
The income and expenses of the bank were respectively 1.4 million and 2.37 million manat. -15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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