Loss of NBC Bank AZN 1,415,000
NBC Bank has increased its assets in the third quarter of 2016 compared to the beginning of the year by 40.6% (AZN 271 million), which made up 938 million manat.
During this period the bank's liabilities decreased by 35 million 656 thousand manat (27.4%) and accounted for 94 million 237 thousand manat.
The deposits decreased by 32 million 912 thousand manat (32.6%), amounting to 67 million 835 thousand manat.
The bank's capital rose to 53 million 203 thousand manat (growth - 42.3% or 15 million 834 thousand manat).
The bank’s loss during the reporting period amounted to 1 million 415 thousand 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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