Assets of "Mugan Bank" increased during the first three quarters of 2013 by 9.4%, to 319.11 million manat. Loans to customers increased by 15.9% to 235.1 million manat. The volume of non-performing loans increased to 9.38 million manat, and their share in total loan portfolio reached 4%. Consumer loans grew by 9.5% to 52.05 million manat.
The total liabilities of the bank increased to 264.72 million manat. The deposit portfolio increased by 0.1%, amounting to 116.26 million manat, and time deposits increased by 6.5% to 83.1 million manat.
Balance sheet assets reached 54.39 million manat. The total capital grew by 12.4% higher than the 50.74 million manat, and paid charter capital - by 10.1% to 41.31 million manat.
Revenues and expenses of the bank equaled 31.49 million, respectively, and 26.86 million manat. Net profit amounted to 4.63 million manat. - 15B -
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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