JSC DekaBank for the first 11 months of 2012 had net profit after tax of 2.68 million manat, which is 39% lower than recorded in the previous year. The bank's earnings were equal to 6.3 million manat, and the costs - 3.63 million manat, increasing by 15% and 20.6%.
The assets increased in January-November, up 31.7% to 62.82 million manat. The volume of issued and corporations loans grew by 34% and amounted to 51.23 million manat.
The total liabilities of the bank increased from 26.73 million to 42.43 million manat. The deposit portfolio increased by 2.5 times, amounting to 18.4 million manat, including term client investments that increased 2.8 times to 15.8 million manat.
The b Balance capital fell by 2.4% to 20.39 million manat, and the total capital - 4.1% to 16.71 million manat. The paid authorized capital remained at 13.42 million manat. - 15B -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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