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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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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