The International Bank of Azerbaijan increased assets in the first half of 2013 by 8.6 % to 6213.88 million manat. Total volume of loans increased 12.8 %, amounting to 6,034.87 million manat.
The total liabilities of the bank increased from 5,369.5 million to 5841.49 million manat. The volume of customer accounts increased 7.9 % to 2957.16 million manat.
Balance sheet assets reached 372.39 million manat. The total capital increased by 6.3 % to 765.55 million manat, and paid charter capital - by 2.8 % to 340 million manat.
According to the results of operations for the first six months of this year, the net profit of the bank amounted to 24.26 million manat. - 15B -
Economics
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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Azerbaijan’s state-owned electricity producer, Azerenergy, is advancing the construction of six hydroelectric power plants (HPPs) in the Kalbajar and Lachin districts as part of the country’s efforts to expand its renewable energy capacity. The plants, with a combined capacity of 37.5 megawatts (MW), are expected to be commissioned in the first half of 2025, according to the company.
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