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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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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