Net income of Xalq Bank increased more than four times
OJSC "Xalq Bank" in the first three quarters of 2012 net profit after tax of 8.98 million manat, which is 4.2 times more than the figure recorded a year earlier. The bank's earnings were equal to 48.21 million manat, increasing by 11.8%, while its expenses decreased by 4.2% to 39.23 million manat.
Assets increased in January-September by 16.3% to AZN 831.48 million ($ 1.1 billion). The volume of issued and corporations loans grew by 41.1% and amounted to 625.61 million manat.
The total liabilities of the bank increased from 533.31 million to 634.74 million manat. Deposit portfolio increased by 22.6% to 512.97 million manat, including term client investments increased by 10.3% to 358.93 million manat.
The balance capital reached 196.74 million manat. The aggregate capital increased by 7.7% higher than the 186.62 million manat, and paid charter capital - by 20.4% to 169.1 million manat. - 15B -
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review