JSC Azer-Turk Banki for the first half 2013 had a net profit of 646,000 manat, which is 10.8% less than the same period in 2012. Revenues and expenses of the bank equaled 5.6 million, respectively, and 4.95 million manat.
Assets increased in January-June, up 4.8% to 89.44 million manat. The volume of issued and corporations loans increased by 12.6% to 61.66 million manat, while the volume of non-performing loans increased by 45.2% and their share in the total loan portfolio increased by 1.77 percentage points, reaching 7.86%.
The total liabilities of the bank increased from 70.65 million to 74.13 million manat. The deposit portfolio increased by 74.3% to 44.79 million manat. Of these, 24.69 million manat fell on the share of time deposits.
The balance capital increased to 15.31 million manat, and the total capital - to 14.45 million manat. Paid charter capital remained unchanged totaled 12.24 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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