Interbank Market Fell in January 2013 to 1.3%
Assets of the International Bank of Azerbaijan fell in January this year at 77.74 million or 1.3%, to 5813.622 million. The volume of issued and corporations loans increased by 68.76 million or 1.8% reaching 3925 million manat.
The total liabilities of the bank declined to 5345.44 million and 5262.17 million manat. The deposit portfolio increased slightly to 2406.461 million manat, while the term client investment decreased by 0.5% to 1501.69 million manat.
Balance capital reached 551.46 million manat, and paid charter capital increased to 330.842 million manat.
Income and expenses of the bank were respectively 38.86 million manat and 33.25 million manat. Net income amounted to 8.5 million manat. - 15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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