The international rating agency Moody's said that the rating of Bank of Baku on January 1 and July 1 remained stable at the level B3.
Based on the financial performance of the bank as of July 1, the total capital adequacy ratio was 19.5%, which is 10% above the minimum established by the Central Bank.
Previously the bank's profit was 9.3% of the total assets.
The volume of micro-credit in the Bank of Baku in 2015 amounted to 88 million 150 thousand AZN, which is 10.6% more than the year before.
The bank reports that the micro-credit portfolio in 2014 amounted to 79 million 678 thousand AZN.
There is reduction in lending consumer services, electronic cards and cars.
The consumer loan portfolio of the bank in 2015 amounted to 318 million 521,000 thousand AZN against 338 million 160 thousand AZN in 2014.
By credit card there was a decrease from 147 million 544 thousand AZN in 2014 to 129 million 364 thousand AZN.
Auto loans decreased from 62 million 535 thousand to 35 million 663 thousand.
Business loans decreased from 35 million 766 thousand AZN to 35 million 448 000 AZN.
The total loan portfolio of the bank amounted to 607 million 146 thousand against 663 million 683 thousand in 2014. -0-
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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