The assets of the Industrial Bank of Azerbaijan in 2016 compared to 2015 increased by 90 million 780 thousand manat, or 13.1%, amounting to 781 million 179 thousand manat.
The bank's liabilities for the specified time also increased by 90 million 377 thousand manat or 14.7% to 702 million 525 thousand manat.
The bank’s deposits increased by 7 million 6 thousand manat (1.64%), reaching 432 million 707 thousand manat.
The timed deposits of legal entities are 32 million 636 thousand manat and those of individuals are 324 million 781 thousand manat. Call deposits of legal entities amount to 63 million 993 thousand manat, and those of individuals are 11 million 296 thousand manat.
The bank’s debt to the Central Bank for the year did not change and is 10 million manat.
The bank's capital for the reporting period rose by 6 million 403 thousand manat or 8.1% to 84 million 653 thousand manat.
The credit portfolio for the year grew by 76.2% or 128 million 641 thousand manat, reaching 297 million 418 thousand manat.
The overdue loans are 7 million 861 thousand manat or 2.64% of the total loan portfolio.
In 2016, the bank showed a profit of 3 million 833 thousand manat. -------71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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