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 has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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