The loan portfolio of JSC NBC Bank in the first quarter decreased by 0.3% to 118 million 128 thousand manat. This is partly reflected in the profit - in January - March, the bank's net loss was at 586 thousand manat.
By April 1, also reduced the bank's own capital (minus 0.9%), amounting to 50 million 572 thousand manat.
Nevertheless, the assets increased 2.8% - up to 141 million 928 thousand manat, while the liabilities increased 4.9% - to 91 million 356 thousand manat. The deposit accounts during this period totaled 64.1 million manat (+ 10.4%).
The authorized capital is unchanged - 46 million 536 thousand manat. On December 24 last year, the bank tried to place shares in the amount of 5 million manat to bring the authorized capital to the level required by CBA - 50 million AZN, but the attempt was not successful.
JSC NBC Bank was established in December 1992. The Chairman of the Supervisory Board is Fuad Ganbarov. The Acting Chairman of the Board is Elchin Mammadov. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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