The assets of the International Bank of Azerbaijan in 2016 compared to 2015 decreased by 1 billion 017.998 million manat, or 7.68%, to 12 billion 223.723 million manat.
Within the specified time, the bank's liabilities increased by 289,259,000 manat or 2,29%, reaching 12 billion 903 million 359 thousand manat.
The IBA debt to the Central Bank declined over the year by AZN 50 million and amounts to 600 million manat.
During the reporting period the deposits in the bank were reduced by 197,122,000 manat, or 3.17%, to 6,012,172,000 manat.
IBA on the basis of 2016 has a negative capital of 679,635,000 manat. Loss of the bank in 2016 amounted to 1,356,492,000 manat. ----71D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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