Assets of Capital Bank in January-March 2013 decreased by 467.3 million or 14.4% to 2,772.7 million manat. The loan portfolio decreased by 475.9 million or 27.5% to 1253.7 million manat.
According to the bank, the deposit portfolio for the period decreased by 16.7% to 447.5 million manats, including retail deposits decreased by 211.4 million or 2.3 times to 166.3 million manats.
The total capital increased to 118.8 million manat, and the paid charter capital remained at the level of AZN 50 million.
The revenues and expenses of the bank equaled 31.8 million, respectively, and 26.9 million manat. The balance sheet profit for the first quarter amounted to 4.9 million manat. - 15B -
Economics
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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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