JSC Caucasus Development Bank in the first half of 2014 rose slightly. According to the financial structure, by July 1, its assets increased by 4% - up to 132 984 660 manat and the credit portfolio became AZN 117,446,970 (+3.3%). The bank's liabilities are 72,087,250 manat (4.9%). Deposits in the bank account for 7,962,750 manat (+3.7%), including the contributions of the population - 6,871,500 manat (+ 8.5%). The bank's equity to start the second half of the year is equal to 60,897,420 manat with sufficient authorized capital - 52 million manat. The net profit amounted to 4.1316 million manat to 1 July.
JSC Caucasus Development Bank was established in April 1996 in order to accelerate economic and social development of the countries of the Caucasus, with the assistance of enterprises, banks, organizations and citizens of Azerbaijan, the USA, Germany, Russia and Georgia. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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