The loan portfolio of AFB Bank OJSC decreased by 9.4% and made up AZN 181.01 million in 2015.
But, as stated in his report, 7.2% of its assets grew, reaching 312 million 574 thousand AZN by January 1 and the liabilities grew by 10.5% to 234.07 million manats.
The deposit accounts grew by 7.6% and amounted to 123 million 281 thousand AZN, including deposits of the population - 20 million 764 thousand manats.
The bank’s ownership capital by the end of the reported period was at the level of 78 million 504.9 thousand manats (+ 5.6%). During the year there was no change in the authorized capital of 70 million 393.46 thousand manats.
The bank completed last year with a net profit of 2 million 79.4 thousand manats.
AFB Bank OJSC has been operating in the market from 28 November 2008. The main shareholder is Gilan Ltd. (99.2%), with two individuals besides that. --17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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