The assets of Amrah Bank in the third quarter of 2016 compared to the same period last year increased by 33% (65 million 183.203 thousand manat), amounting to 262 million 149.632 thousand manat.
During the reporting period the bank's liabilities increased 38.5% or 57 million 142.772 thousand manat to 205,526,993 manat.
The capital of Amrah Bank for the period increased to 56 million 622.638 thousand manat (growth - 16.5% or 8,040,431 manat).
In the third quarter loss of the bank amounted to 3,868,930 manat. ----71D
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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