The assets of the Baku branch of Melli Iran Bank fell in January- September 2013 by 0.5 % to 69.74 million manat. The volume of loans issued to individuals and legal entities decreased by 6.3% and amounted to 24.07 million manat.
The total liabilities of the bank decreased from 48.53 million to 48.24 million manat. Deposit portfolio has expanded twice reaching 4.03 million manat .
Equity capital reached AZN 21.5 million and total capital decreased to 21.53 million manat. Paid charter capital remained at 22.41 million manat.
Net profit after tax amounted to 49,000 AZN. - 15B -
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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