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
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review