Assets of Express Bank in the third quarter of 2016 compared to the same period last year decreased by 3 million 441 thousand manat (1.18%), amounting to 287 million 87 thousand manat.
During the reporting period, the bank's liabilities increased by 2.19% (3 million 188 thousand manat) to 148 million 551 thousand manat.
The volume of bank deposits reached 79 million 505 thousand manat (growth 18.4% or 12 million 385 thousand manat).
Demand deposits of legal entities in the bank were 13 million 625 thousand manat, and those of individuals were 6 million 981 thousand manat.
Term deposits of individuals were equal to 58 million 899 thousand manat.
The bank's capital during this period declined by 6 million 628 thousand. manat (4.5%) and became 138 million 537 thousand manat.
The bank’s loss in the third quarter of this year amounted to 1 million 473 thousand manat.
By the time of the report the bank issued loans amounting to 214 million 595 thousand manat. This includes government loans amounting to 28,000 manat, loans issued to private entities of 116 million 546 thousand manat, loans issued to persons engaged in entrepreneurial activity of 29 million 8 thousand manat, and loans issued to individuals of 69 million 13 thousand manat.
83.36% of the loans are satisfactory. 71D
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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