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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The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
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The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
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Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
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Issues related to the development of the energy sector through digital innovations were the subject of negotiations between Rovshan Najaf, President of SOCAR, and Seita Hagihara, President and Vice President of Yokogawa Electric Corporation, a leading Japanese multinational company specializing in electrical engineering and industrial automation.
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