Net income of NBCBank increased 7 times
JSC NBCBank on the basis of 2012 had net profit after tax of $ 2.37 million manat, which is 7 times more than the figure recorded a year earlier. Bank's earnings were equal to 11.39 million manat and expenditures - 10.9 million manat, increasing by 28% and 23.9%.
Assets increased during the year by 35.6%, amounting to 86 million manat. The volume of issued and corporate loans grew by 37% and amounted to 69.89 million manat.
The total liabilities of the bank increased from 44.75 million to 61.74 million manat. Deposit portfolio increased by 56.9% to 39.74 million manat, including term client investments increased by 57.9% to 37.11 million manat.
Balance capital reached 24.27 million manat. Aggregate capital increased by 29.1% higher than the 23.11 million manat, and paid charter capital - by 18.9% to 19.53 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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