Assets of Khalg Bank in 2016 compared to 2015 increased by 5.58% or 88 million 260 thousand manats, reaching 1 billion 668 million 620 thousand manats.
During the reporting period, the bank's liabilities increased by 4.36% or 59 million 862 thousand manats and amount to 1 billion 430 million 982 thousand manats.
The bank deposits are kept in the amount of 1 billion 98 million 899 thousand manats, of which 771 million mantas are in foreign currency.
Call deposits of legal entities amount to 122 million 279 thousand manats and AZN 78 million 911 thousand are for individuals.
Term deposits of legal entities are AZN 200 million 302 thousand and for individuals the index is 697 million 405 thousand.
The bank's capital for the specified time has grown to AZN 237 million 638 thousand manat (an increase of 28 million 399 thousand manats or 13.57%).
The debt of Khalg Bank to the Central Bank of Azerbaijan totaled AZN 31 million 500 thousand in 2016.
In 2016, the bank showed a profit of 10 million 369 thousand manats. ----71D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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