Assets of NBCBank increased over the first 9 months of 2012 by 30.5% to 82.73 million manat. The volume of issued and corporations loans grew by 31.1% and amounted to 66.93 million manat.
The total liabilities of the bank increased from 44.75 million to 61.9 million manat. Deposit portfolio increased by 71% to 43.41 million manat, including term client investments that increased by 51.4% to 35.55 million manat.
Balance capital grew by 11.3% to 20.82 million manat, and the total capital - 12.2% to 20.06 million manat. Paid charter capital remained unchanged and amounted to 16.39 million manat.
Income and expenses of the bank were respectively 9.13 million and 7.27 million manat. Net profit after tax amounted to 1.97 million manat. - 15B -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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