Net income of AtraBank increased in 2012 by 40%
JSC AtraBank on the basis of 2012 had a net profit after tax of 47 thousand manats, which is 40% more than recorded a year earlier. The Bank's earnings were equal to 8.3 million manat, and costs - 8.25 million manat, increasing by 36% to 37.8%.
The assets increased during the year by 2.6% to 64.11 million manat. The volume of issued and corporation loans fell by 6.2% and amounted to 42.47 million manat.
The total liabilities of the bank increased from 48.95 million to 50.36 million manat. The deposit portfolio increased by 40.7% to 27.02 million manat, including term client investments increased by 40.1% to 20.59 million manat.
The balance capital grew by 1.5% to 13.76 million manat, and the total capital grew by 1% to 11.39 million manat. The paid authorized capital remained unchanged, reaching 10.42 million manat. - 15B -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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