JSC "Mugan Bank" on the basis of 2012 had a net profit after tax of $ 3.88 million manat, which is 36.9% less than the figure recorded a year earlier. Bank's earnings were equal to 39.43 million manat and expenditures - 34.43 million manat, increasing by 22% and 31.5%.
Assets increased during the year by 20% to 291.81 million manat. The volume of issued and corporations loans grew by 19% and amounted to 202.89 million manat.
The total liabilities of the bank increased from 209.36 million to 243.36 million manat. Deposit portfolio increased by 27.5% to 116.17 million manat, including term client investments increased by 12.5% to 78 million manat.
Balance capital reached 48.45 million manat. Aggregate capital increased by 42.7% higher than the 45.06 million manat, and paid charter capital - by 68.6% to 37.51 million manat. - 15B -
Economics
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On January 10, 2025, Azerbaijani President Ilham Aliyev signed a decree dismissing Samir Sharifov from his position as Minister of Finance. Having held this role since 2006, Sharifov has been appointed Deputy Prime Minister, marking a shift in his responsibilities while maintaining his influence within the government.
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Azerbaijan's gas exports to the EU via the Southern Gas Corridor (SGC) have sharply decreased since January 7, due to technical issues at a strategic facility in Azerbaijan, according to Turan, citing multiple sources.
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During a press conference in Baku on Friday, Deputy Minister of Digital Development and Transport of Azerbaijan, Rahman Hummatov, highlighted the country's significant achievements and future plans in transport infrastructure.
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Economist Gubad Ibadoglu provides a sobering analysis of Azerbaijan’s economic prospects as 2025 begins, highlighting a landscape marked by declining oil prices, rising inflation, and expectations of manat devaluation. These pressures, he notes, are poised to undermine real GDP growth, weaken investment, and exacerbate unemployment and poverty rates.
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