Bank Nikoil concluded the year 2016 with a loss of 148 million 538 thousand manat. The bank’s debt to the Central Bank is 40 million 500 thousand manat.
The bank’s assets in 2016 were reduced by 130 million 224 thousand manat or 22.8% compared to 2015, reaching 439 million 726 thousand manat.
The bank's liabilities for the reported period fell to 399 million 165 thousand manat (-149 million 377 thousand manat or 27.2%).
The volume of bank deposits is 263 million 307 thousand manat.
The bank's capital for the specified time increased by 89.18%, or 19 million 92 thousand manat, amounting to 40 million 561 thousand manat. ----71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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