Assets of "Bank Silk Way" in 2012 increased by 2.4 times, reaching 188.23 million manat. The volume of issued and corporations loans grew by 74.5% and amounted to 45.93 million manat.
The total liabilities of the bank increased from 38.09 million to 112.09 million manat. Deposit portfolio increased by 3 times, reaching 99.88 million manat, including term client investments doubled to 21.12 million manat.
Balance capital reached 76.13 million manat. Aggregate capital increased by 85.1% higher than the 75.71 million manat, and paid charter capital - doubled to 70.2 million manat.
The bank's earnings were equal to 14.93 million manat, and costs - 8.33 million manat, increasing compared to 2011, respectively 39.3% and 59.6%. Net profit after tax decreased by 21.7% to 3.96 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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