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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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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