The credit portfolio of Khalq Bank at the end of October this year amounted to 1.011 billion manat.
As stated in the bank, the biggest percentage of the loan portfolio continues to be corporate borrowers and businesses, but the share of private clients is constantly increasing and now reaches 12 % of the total portfolio.
An indicator of the success of the Bank is also dynamic growth and other financial results. The Bank's assets at the end of October amounted to 1.3 billion manat and the size of the deposit portfolio stood at 875.0 million manat , of which 736.0 million were deposits from the public.
At the balance sheet date, the Bank's capital exceeded 218.0 million and the registered capital is more than 183.0 million manat. Profit for the year is 11.1 million manat. The main financial indicators of Khalq Bank ranked first among private banks. -15D -
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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