Total assets of banks in Azerbaijan rose in July to 507.22 million or 2.9% to 18,693.48 million manat. From the beginning, the bank assets increased by 13.1 %, while for the year - by 26.2 %.
According to the Central Bank of Azerbaijan, on August 1, 2013 the amount of cash in banks amounted to 737.1 million manat, funds in correspondent accounts amounted to 1115,7 million manat , lending financial sector - 681.6 million manat, customer lending - 12949 4 million manat , the volume of investments - 1609.7 million manats , other assets - up to 1600.1 million manat.
Liabilities of banks increased in the reporting month to 367.1 million or 2.4% to 15,696.43 million manat. Of these 8488 million manat secured deposits, 6089.9 million manat - with financial sector and 1118.6 million manat - other liabilities.
The total capital of banks increased over the year by 728.4 million or 32.1 %, in July - by 140.1 million manat, or 4.9 percent to 2,997 million manat. - 15B -
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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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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