Assets of PASHA Bank made on July 1 this year were 656.48 million manat. The volume of loans increased in the first half of the year by 44.59 million or 16%, reaching 325.48 million manat.
The deposit portfolio amounted to 360.65 million manat. Of these, 121.79 million manat fell to urgent client investments.
The total assets increased by 1.9%, reaching 181.42 million manat, and the paid charter capital remained at the level of AZN 157 million.
The revenues and expenses of the bank equaled 32.35 million, respectively, and 28.42 million manat. The net profit amounted to 3.93 million manat. - 15B -
Economics
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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.
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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.
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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.
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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.
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