JSC AtraBank in the first three quarters of 2012 net profit after tax of $ 378 thousand manats, which is 15% more than recorded a year earlier. Bank's earnings were equal to 6.12 million manat, and costs - 5.74 million manat, increasing by 41.9% and 46.2%.
Assets increased in January-September, up 2.7% to $ 64.22 mln. The volume of issued and corporations loans fell by 0.2% to 45.16 million manat.
The total liabilities of the bank increased from 48.95 million to 50.1 million manat. Deposit portfolio increased by 23.1% to 23.62 million manat, including term client investments increased by 35.4% to 19.95 million manat.
Balance capital grew by 3.7% reaching 14.11 million manat, and the total capital - 3.5% higher than the 11.74 million manat, and the paid charter capital remained unchanged totaled 10.42 million manat. - 15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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